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Taking the Pension Task Force to Task

Governments should stop generating new pension debt

… a well-established pension funding principle that … the full costs of the pension benefits earned by their … year. This prevents pension debt from growing out … challenge for financing pension systems. To keep them … more

Governor Granholm Called to Underfund Pensions 6 Years Before Company Bankruptcy

There is no natural constituency for properly funding pensions

… pressure to underfund pensions, and the promises that … with defined benefit pension plans, they are required … bankruptcy, the employee pension plan was terminated … taken over by the Pension Benefit Guaranty Corporation . … more

Why Michigan Pension Reform Matters

Michigan now a national leader on fixing pension problems

… 2017 public school pension reform is a transformational … officials to promise pension benefits to new school … the state’s school pension system. It covers 189,761 … system. But the pension fund is underfunded. … more

State Policies Created School Pension Pain

The only real solution is to close public pensions to new employees

Pension costs are forcing tough … will be. To pay for pension benefits, the state … payroll to the school pension system, while the employees, … responsibility for pensions. It also announced … more

Schoolchildren, Teachers, Taxpayers Harmed When Pension Managers Assume Too Much

The realities of Michigan's $26.5 billion pension liability

… system to base annual pension contributions on an … contributions into the pension fund will be insufficient … pay. Michigan’s school pension system has put taxpayers … year. Several state pension officials quoted in … more

New Bill Fixes a Pension Problem, Leaves Major Problem Untouched

Boosted pensions aren't the main cause of underfunding

… their taxpayer-funded pension benefits. The bill could … costs of an underfunded pension system. The problem with public pensions in Michigan is not … earn credit towards a pension that they will collect … more

Pension Underfunding Has a Cause — But it is Not Smaller Workforces

Pensions do not operate like Social Security

… of defined benefit pension systems are meant to be paid as pension credits are earned by … understanding of how pension funding actually works … because government pension funds do not, in fact, … more

Media Misinterpreting Detroit Pension Bill

Legislation doesn't address pension underfunding

… could negotiate for pension or hybrid plans as long … obligation to fund pension benefits, payments are … calculate the value of the pensions earned by each employee … in general. If the pension funds develop an unfunded … more

State Government Up to Its Eyeballs in Pension Debt

Unfunded pension liabilities dwarf state’s other borrowing

… around the country — and pensions are exhibit No. 1. Michigan … employees far more in pension benefits than can be … nonetheless. The state-run school pension system is largest pension system in Michigan. … more

What You Owe for Pensions

Michigan governments hold $3,800 per person in pension debt

… entities that offer pensions to former and current … money to pay for the pensions promised to employees … that of other open pension systems, is trending … study of Michigan’s pension systems, at all layers … more

The Lose-Lose Situation in Pension Funding

Pension underfunding, not defined contributions, is the problem

… own retirement. Pension plans in governments … the money going into pension funds is not to pay … has created a hole in pension systems across the state. … more

Michigan's Underfunded Pensions: A Tale of Two Counties

Wayne County governments have dug a $3.4 billion pension hole

… billion in unfunded pension benefits to their employees, … run a defined benefit pension plan for their employees, … its defined benefit pensions to new hires, instead … accounts. The legacy pension system that serves county … more

$1 Billion of Tax Money Thrown Into a Growing Deficit

Michigan increased pension funding and it’s still not enough

… the school employee pension fund. But the extra … amount of money the pension system needs each year … state still owes in pension debt. This is different … pay for the school pension system has increased … more

Why Some Teachers Prefer a 401(k) Over a Pension

Michigan legislators debate fix to pension system underfunded by $26 billion

… kept open the teacher pension system but began allowing … instead of the old pension system, according to … concerns about future pension cuts and underfunding … of which … [is] the pension program is underfunded … more

Overtime In Final Years Will Spike Ann Arbor Cop’s Lifetime Pension Payout

This detective also put in lots of overtime

… would collect an annual pension of $126,000 if he retired … for that six-figure pension because he collected … permanently boost his pension payout by $13,495 in … That’s because the pension system Ann Arbor created … more

Pension Officials Mislead Lawmakers

Bureaucrats attempt to scuttle pension reform with inaccurate and irrelevant information

… massively unfunded school pension system to new enrollees, … testified that closing the pension system would require … would close the current pension system to new enrollees … so-called best practices of pension financing that are entirely … more

Michigan Teacher Pension System Liabilities Increase Again

System underfunding up to $25.8 billion

… the costs for the teachers' pension fund a budget breaker. … Smith Company. The pension liability in 2009 was … of “smoothing” where pension funds blend several … includes $25.8 billion in pension and $12.49 billion in … more

Pension 'Transition Costs' Remain a Myth

Package of bills would finally close school employee pension plan

… state-run school employee pension system and offering … that the rules for pension accounting only guide how pensions are reported and do not mandate a pension funding policy. In any … more

Where $100 Million Buys Little: Michigan School Employee Pension Fund

Teacher pension system gobbles up 30 percent of payroll

… Retirement System. The pension liability (just the … evaluate the health of a pension system, we look at the … billion. Naturally, the pension system represents a … also: CapCon Pension Coverage Oakland: … more

Why Pension Reform Is Hard for Politicians

No consequences to kicking the can down the road

… retirees billions more in pension benefits than they’ve … around their necks. Pensions are supposed to be … earns a dollar worth of pension benefits, the employer … pay that employee’s pension upon retirement. Managers … more

Legislators Should Look To Oklahoma To Address Pension Change ‘Transition Costs’

… for Michigan’s school pension fund increased to … liabilities in its pension system, Oklahoma closed its pension system to new employees … costs in the school pension system, “ Five Options … more

Pension Predictions Fall Short

Defined-benefit plans don't get funded, they get underfunded

The school pension system is in dire need … the defined-benefit pension business entirely. Back … time : defined-benefit pension plans don’t get funded, … the school employee pension system does a disservice … more

State Pension Plans Are Unsustainable

Funding liabilities would cost $5,400 per capita

… balloon payment to its pension systems in 2024, which … New hiring, delayed pension cuts, and longer life … financial statements for pension plans covering Michigan’s … have attacked their pension funding challenges by … more

Don’t Blame Employees for Pension Underfunding

Liabilities caused by wrong assumptions

… underfunded government pension systems. When concerns … basic problems faced by pension systems. In 2010, … Michigan’s school employee pension system was underfunded … Michigan’s school employee pension system was underfunded … more

Contaminated Water Dominates Flint Headlines, But Pension Earthquake Looms

Pension payments increase 50 percent in five years

… $285 million unfunded pension liability is consuming … To put the burden of pension obligations into perspective, … risks to traditional pensions, even for a government … on public employee pensions plans.” The city … more

Pension Costs Are Crowding Out Public Safety

Michigan is losing cops to retiree costs

… here’s one theory: Pension underfunding is crowding … 63 percent of what pensions are expected to cost. … averages. Local government pension systems are underfunded … Michigan is trading pension costs for fewer police … more

The Real Problem with Government Pensions

Hint: It's not markets or greedy workers

… cost of government pension plans are often dismissed … retirement benefits. To keep pension costs from draining … should address the pension underfunding crisis … employees is the largest pension program in Michigan, … more

Detroit Was Just the Beginning: The Crisis of City Pension Systems in Michigan

Local government pensions are less than 65 percent funded

… too long to reform pensions. Retirees took a $1.3 … billion hit to their pensions because of a mismanaged … will need to pay the pensions of future retirees. … of a defined benefit pension plan. Of … more

Public School Administrators Complain About Pension Costs; Don't Offer Solutions

… still get traditional pensions as retirement benefits. … liability for teacher pension benefits increased … also: Michigan Teacher Pension System Liabilities Increase … Michigan Can Fix Its Pension Problems Pension … more

Democrats Selectively Considering Pension Benefits In Education Funding

Pensions once 'earned in the classrooms' now excluded from funding equation by Democrats

… costs. He  said the pensions were earned by teachers … compensation, which includes pension benefits, most certainly … Funds' Pension Costs Mean Tighter Budgets … more

Charter Schools Are Not to Blame for Pension Woes

The way to catch up on underfunding is not to rope more people in

Government pension systems around Michigan … public school employee pension system. It is need of … not understand how pension systems work and believe … to avoid the school pension system. Education … more

How Bad Investment Rate Projections Cause Pension Underfunding

Municipal discount rate assumptions prove to be costly

… billion in unfunded pension liabilities. The liabilities … money need to pay for pensions. In Flint, the … city’s defined benefit pension system is only 47 percent … Rapids defined benefit pension system is 97 percent … more

Teacher Pension System Hole Getting Deeper

State falls $290 million short on school pension funding in 2012 after GOP left old system largely in place

… unfunded school employee pension promises. Due to … future contributions. Pension liability was reduced … contribution. ~~~~~ See also: Pension Study Consultants Have … Defending Expensive Pension Plans House … more

Retiree Who's Becoming Face Of 'Pension Tax' is Collecting Generously

Former teacher and union head likely receiving over $51K in pension payments alone

… exemptions for some pensions. But James Pearson, … compensation from a pension and Social Security … complaining about the pension tax, being quoted by … would have an annual pension of $35,910. If that … more

A Solution to Local Government Debt

Pension and retiree health care liabilities are in crisis and the time to act is now

… skyrocketing cost of pension and retiree health care … more

Hathaway Pension: First Check Due Before Sentencing

Despite pleading guilty to bank fraud, Diane Hathaway to collect nearly $100K pension

… thanks to her first pension check from the state … received additional pension checks by that time. Although … of Hathaway's annual pension has yet to be confirmed. … regarding Hathaway's pension. "It will need to be … more

Constitutional Pension Reform, 50 Years On

… state's school employee pension fund was revised upward … state government’s pension fund for public school … constitutionally protecting public pensions, and it is time to … and local government pensions. As the chairman … more

State on Required Payments for School Employees' Pension: 'The Check is in the Mail'

Michigan underfunding pension fund by $2.2 billion over past 10 years

… the school employee pension system. Nevertheless, … contribution" that the pension system's own accountants … Budget-Killing School Employees' Pension Up in the Air 10 Facts About Pension Systems in Michigan Close … more

Why Michigan Has a Pension Problem

Everyone wants to avoid responsibilities on retiree benefits

… inherently wrong with pension systems — the problem … and local government pension systems are similarly … liabilities in its pension systems of $113.6 … more

Defined-Contribution Plans Help State Credit

Michigan's credit rating could increase after pension reform

… state’s underfunded pension system. The latest argument … Michigan’s school employee pension program to a defined-contribution … of defined-benefit pensions can improve a state’s … of defined-benefit pensions. In 1998 the state’s … more

Pension Protestors Should Be 401(k) Supporters

Offering 401(k)-style benefits is good for teachers and taxpayers alike

… state-mandated school employee pensions. Lawmakers are getting … effort. The reason that this pension system is so expensive … Michigan is spent on the pension system. Of those … past. That’s not right. Pensions are intended to be … more

Michigan Legislators Don’t Receive Pensions

Now let’s solve the problem for the rest of government workers

… teachers not receive pensions when politicians do?” … staff do not receive pensions or health care once … changed. Michigan’s pension systems are underfunded … fund defined benefit pension systems. The best way … more

State Pension Funds Move To Risky Investments

Lack of payoff on investments is biggest driver of underfunding

The state’s pension fund lost $10 million … Arbor. A diversified pension system ought to make … SMRS, which manages pensions for hundreds of thousands … note, when the school pension plan began 100 years … more

You are Entering the Government Pension Zone …

An alternative universe of finance and accounting practices

… government defined-benefit pension systems operate, which … the methods used in pension funding and accounting … projecting the cost of pension systems requires making … meet defined-benefit pension promises. Making a wrong … more

Pension Spiking, Early Payouts, Second Careers Make For High-Income Cops

East Lansing’s former chief an example

… his lifetime police pension to $91,000 a year. Immediately … calculates Murphy’s annual pension payouts, which he was … boosted his annual pension payout by about $7,900. It … begin collecting a pension as young as age 50 … more

Michigan Legislature Set to End Union Schemes

Special ‘release time’ and pension spiking arrangements unfair to taxpayers

… private release time or pensions. House Bill 279 … collecting a government pension.” At least the … taxpayer-guaranteed pension. In these arrangements, … a taxpayer-provided pension that is higher than … more

Why Are Michigan House Republicans Continuing These Union Scams?

New Legislature should take up pension spiking, release time in 2017

… 279 dealt with union pension spiking schemes, in … their taxpayer-funded pensions. In at least one … approximately $8,000 annual pension into one worth over … Michigan’s $26.7 billion pension liability. The Michigan … more

Michigan's Pension Crisis Means Tax Hikes and Cutting Cops

Analysis of Michigan cities shows they are paying for more retirees than workers

… their defined benefit pension plans. Walker warned, … their defined benefit pension system to newly hired … the merits of closing pension systems to new employees, … Act and eliminating pension abuses such as pension … more

MEA President Inflating Public Pension with $200K Salary While Working for Private Union

Lansing School District keeps Steve Cook in public employee pension system

… member of the state’s pension system for school employees … This lets him accrue pension benefits based on his … public school employees pension system. The Lansing … underfunded government pension system, leveraging his … more

What the New Legislature Should Stand For — And What It Should Not

… and shored up public pension systems. The icing … two years. Pass pension reform to stop piling … more

Dear Teachers: Here's Why Your Salary Isn't Higher

It's the pension costs

Here's how rising pension expenses are affecting … more

Alleged ‘Transition Costs’ Avoidable In Detroit

Shouldn't be used as a roadblock to pension reform

… the city close its pension systems to new members … have reformed their pension systems show. Transition … catch up on underfunded pensions. Detroit does not have … money saved in its pension system to pay for the … more

Detroit Bailout Bill Leaves Taxpayers On The Hook For New Pension Underfunding

Committee version guts original pension reform bill; full House could vote today

… Detroit's defined benefit pension system and shifted new … city to leave open its pension plan and rack up liabilities … for concessions from pensioners because the city underfunded the pensions it promised its employees," … more

Michigan Teacher Pension Costs Increase To Nearly $1 Billion Per Year

… public school employee pension and retirement health … unfunded liability. The pension system's unfunded liability … required contributions for pension costs, said James Hohman, … less money into the pension system. In 2010, the … more

Facing Possible Jail Time, Disgraced Justice Can Still Collect Pension

Estimates place former Supreme Court Justice Diane Hathaway's annual pension at nearly $100K

… to get a hefty state pension. It's been estimated … Hathaway's annual state pension would come to $98,766. … system. So would Hathaway's pension eligibility change if … ability to get her pension. If she were convicted, … more

Critics of Growth Projections in House Road Plan Should Be Unnerved by Pension Underfunding

… underfunded school employee pension system. The state is … on $25.8 of unfunded pension liabilities. The long … their hair out over pension underfunding, which … more

Michigan Company Billed $465,774 For Teamsters Pension After Laying Off Its Last Unionized Trucker

Severely underfunded private-sector union pension plans are hurting companies

… to get out of union pension funds, those guys are … the Teamsters union pension fund. "We got the … later." Teamsters Central States Pension Fund sent the bill to … ceased paying into the pension fund at that time because … more

Michigan Supreme Court: Pension Reforms were Constitutional

Teacher unions fail challenge to 2012 law

… future reforms to public pensions in Michigan . In … would accrue future pension benefits at a lower … modification.” With public pension systems crowding out … Court upheld a modest pension reform, which allowed … more

If Michigan Officials Believed School Pensions ‘Vital’ They Would Have Paid for Them

Defined benefit pensions could work just fine … employees. But government pensions have a major problem: … largest government pension system, the one for … those promises. The pension fund, then, is $29.1 … more

Ann Arbor’s $307,000 Firefighter

Some city employees hit the jackpot upon retiring

… also eligible for city pensions. The New York Times … more

Time To Fix MPSERS Pension Problem

Unfunded liabilities will grow so long as lawmakers let them

Michigan’s school pension system has $26.7 billion … and members of the pension plan. So was the … the growing unfunded pension liability by moving … state’s defined-benefit pension plan has been mismanaged … more

Closing Pensions for State Employees in 1990s Saved Michigan Millions Today

Study highlights savings from defined-contribution reform

… the state employee pension system to new members. … it considers further pension reforms. The state … $6.2 billion more in pension benefits than it has … the state closed the pension system. But the … more

Unions Should Get Serious About Pension Underfunding

A $2.7 million shortfall causes concern in Grand Rapids

… their members ignore pension underfunding. The Rapids’ employee pension system is 73.5 percent … order to make sure that pensions are paid, government … does not make their pensions any more generous. … more

Politicians Cannot Be Trusted To Properly Fund Pensions

Defined benefit plans should be closed for the good of workers

… properly fund public pension and health care systems. Consider … Illinois. In each case, pension systems were supposed … retiree health care and pensions. But only 10 percent … taxpayers, defined-benefit pension systems should be ended … more

Illinois Takes Pension Advice From ‘The Simpsons’

Michigan has done a lot to avoid this fate

… has saved for their pensions. That’s over $10,000 … backfill the state’s pension funds, which are short … billion. Annual state pension payments are projected … previously issued to pay for pensions. At the request … more

Teachers Union Head Gets Annual $92,000 Pension Bonus, Courtesy of Taxpayers

Scheme let top union officials get school pensions based on six-figure union salaries

… years, his annual school pension would have been an estimated … in the public school pension calculations. The MEA … the school employee pension system on behalf of … collecting an annual pension of $103,227 for the … more

MEA Skips Testifying on Bill Ending Its Pension Spiking Arrangements

Past MEA presidents spiked their public pensions using six-figure union salaries

… prohibiting public school pension spiking scheme benefiting … — but not about the pension bill. The Senate … 279 would outlaw pension spiking of the type … his taxpayer-funded pension. Michigan Capitol … more

The Problems with the Pension and Retiree Health Insurance Bills

Recent legislation confuses legal obligations between benefits

… for local government pensions and retiree health … because it conflates pension and retiree health care … local governments. Pensions and retiree health … constitution requires pensions to be paid for as they … more

Michigan Funding Its Pensions, Using More Realistic Numbers

Hat trick: Legislature also contained school pension liabilities by closing system to new hires

… Michigan’s public school pension system increased again … now to make future pension payouts, so a more conservative … rate of return on the pension plan was lowered from … enough to the school pension fund to cover the pension … more

More Michigan Cities Meeting Financial Needs

Pension liabilities still a looming problem

Pension liabilities still a looming problem.


'Steve Cook' Bill Would Prevent Private Union Employees from Spiking State Pension

MEA president is basing public pension on $200K union salary

… years as part of a “pension spiking” scheme. Last … the state-run school pension system on behalf of … collect a much larger pension from the school retirement … at prohibiting such pension spiking deals, and would … more

Why Detroit Pensions are Underfunded

Plenty of blame to go around

… meant that the city’s pensioners may receive less … reasons why Detroit’s pension systems are in poor … most basic reason that pensions are underfunded in … ineffective at keeping pensions funded during bad times. A … more

Why Detroit's Pension Funds Failed

The assumption problems are statewide

… explains why Detroit’s pension funds are in crisis … and school employee pension systems. Excerpt: The … failure of Detroit’s pension systems has been blamed … governments to pay for pensions as they are earned, … more

Pension Funding Best Practices Remembered

But only when they serve bureaucrat Interests

… offers defined benefit pensions or other post-employment … those overseeing the pension system do little to … 5-year smoothing of pension assets in 2007 so it … fewer dollars into the pension system that year. It … more

Union Survey: Michigan Teachers Want Pension Reform

Only 12.2 percent of MEA members feel they will have a comfortable retirement

… the current teacher pension system. The survey … concerned. The teacher pension system, MPSERS, has … liabilities. Government pension systems across the state … more

Pension Debt ‘Like a Mortgage?’ Yeah – On a Home You Sold Years Ago

Shakiest cover story yet from defenders of unsustainable government pensions

… school and municipal pension systems. As usual, some … consideration. Pension officials may want to … growing government pension liabilities to a homeowner’s … Business: “Yes, pension unfunded liabilities … more

Fossil Fuel Investments Yield Big Returns for State Pension Funds

Michigan's underfunded state pensions got 37 percentage points better returns from oil and gas

… largest government employee pension funds, according to … Michigan's separate pension funds for school and … underfunding , both pension funds have unfunded … state’s two largest pension funds was about 81 percent … more

State Officials Caused Michigan's Pension Crisis

No accident that school pension system is underwater

… underfunded school employee pension system in 2016. That … fund Michigan’s school pension system are causing problems … manages state and school pension systems; it has consistently … promises in the school pension system. In the coming … more

School Pension Fund Needs Fewer Gimmicks

Legislature still putting off real reform

… to rework the school pension underfunding problem … represents just another pension gimmick, and a harmful … instead consider real pension reform. House … on years of school pension system underfunding. … more

If School Pensions are ‘Vital,’ They Should Have Been Properly Funded

School employees are the state’s largest creditors

Defined benefit pensions could work just fine … employees. But government pensions have a major problem: … cost of these promised pensions occur decades into … largest government pension system, the one for … more

Supreme Court Justice's Problems Not Likely to Affect Generous Pension

With 20 years of judicial service, Justice Diane Hathaway could get $100K a year pension

… probably look forward to a pension that may be just shy … eligible for a state pension. According to the Office … details yet on her pension," Department of Technology, … Supreme Court Justice’s pension is straight-forward. … more

Management Model No Guarantee of County Pension Soundness

Management culture important for success or failure

… traditional defined benefit pension plan, it has two options … job of keeping their pension promises funded at sustainable … levels. On average, county pensions managed by MERS have … should have to pay the pension promises they have made). According … more

The Detroit Bailout and Meaningful Pension Reform

Looking at the 'grand bargain' for the city

… the defined benefit pension system is closed. That … national experts on pension reform at an Issues … Bailout and Meaningful Pension Reform ," featured … would close the current pension system and begin offering … more

Pension Funding: Why Your Town is Going Broke

Not because you don't pay enough taxes

… enough money to pay the pensions promised to their workers. The … (MERS) administers pension systems for 728 local … adequately funded their pension obligations, according … million a month in pension payments. The broadly … more

How Politicians Game the Pension System

There are few political gains from properly funding a defined benefit plan

… employers should pay the pensions that its employees … country, government pensions systems have failed … required to pay those pensions. Michigan's recent … incentives to ensure that pensions are properly funded. The … more

Wayne Co. Schools’ $80 Million Annual Tax Hike Won’t Cover Pensions

Backers promise more teachers and smaller classes, but filling pension hole is the reality

… underfunded school employee pension system is absorbing … seen their combined pension expenses increase from … more

State’s Largest Teachers Union Offloads Some Pension Obligations Onto Taxpayers

MEA’s own unfunded pension liabilities now stand at $130.3 million

… burden of providing pensions for its top executives … taxpayers. Moreover, it’s a pension-spiking scheme that … unfunded liability in a pension system it runs for its … continue to accrue pension credits with Michigan’s … more

Cops Retiring in Their 40s While Pension Systems Break Cities’ Backs

Retirees collecting pension checks while working in second career

… started collecting pension checks in 2010 at age … begin collecting police pensions. Early retirements … is that Ann Arbor’s pension system is underfunded … to fund employees’ pensions in 2006. By 2014, the … more

Michigan Now Spending More on Teacher Retiree Liabilities Than Prisons

Pension costs are crowding out other state funding

… public school employees pension liabilities and retirement … its annual costs for pension and retiree health care … anticipated costs for pensions that year and 66 percent … care. The MPSERS’ pension has $25.8 billion in … more

Grasping At Taxes to Pay for Pensions

Schools, municipalities get creative

… order to pay increased pension requirements. Malanga … bill. With health and pension costs creating a $1 … underfunded police and fire pension systems. The increased … contributions required by the pension system is one of the … more

Myth And Muddle Blocking Pension Reform

… liabilities for government pension plans nationally are … from defined-benefit pension systems to defined-contribution … liability-prone conventional pension systems, instead providing … defined-benefit school pension system to new hires. … more

Teachers Work in the Classroom

And pensions are employee compensation

… underfunded teachers’ pension fund. There’s no doubt … needed to keep the pension fund solvent, but that … classroom.” ForTheRecord says : Pensions are part of the compensation … more

Pew Trust: State Pension Managers Failed Even To Meet Own Funding Estimates

A cascade of failures leave taxpayers on hook for $26.7 billion in unfunded pension promises

… public school employees pension system in 2014, the … million was for new pension promises made to school … to avoid sending the pension plan even deeper into … more

Congress May Protect Private Pensions from State Bureaucrats

Recent regulations allow states to create and manage retirement for private employees

… states mismanage the pensions of their own employees, … safeguards for private pensions and forced some employers … Employment, Labor, and Pensions. The regulation , … established employee pension benefit plans under” … more

Education Union Should Be Voice For Pension Reform

School employees deserve more than political promises

… state-controlled defined benefit pension plan that has accumulated … argued to stop the pension underfunding. It could … to contribute to the pension system. The costs for … were needed to keep pension system afloat. Instead … more

School Budgets Stressed Alright — But Not From Mythical State ‘Cuts’

Watch the skyrocketing pension expenses

… the state-run school pension system, which have skyrocketed. … more

Commentary: State Budget Windfall Invalidates Pension Reform Excuses

Legislators should use extra money to shift new school employees to 401(k)-type accounts

… liabilities in the school pension system. The temporary … between the school pension system’s future commitments … conventional defined-benefit pension system. Every state … in the country faces pension fund shortfalls. In … more

Foundation Examines Michigan Pensions and Finds - Mismanagement

'This mismanagement was caused by explicit underfunding'

… updated study on public pension reform conducted by … state not reformed the pension program, it would only … higher . The study, “ Pension Reform Case Study: Michigan … promised. “A properly managed pension reform process would … more

10 Facts About Pension Systems in Michigan

Why reform is so vital

… talking about underfunded pension systems, but here are … are devoted to the pension system – up from 12 … employees spend on pensions goes to catch up … decline. The teacher pension system assumes annual … more

Ten Facts About Government Pensions In Michigan

With all the charts you need to explain the problems

… billion invested in the pension fund right now. But … to schools, though: Pension funds at Michigan’s … contributions (ARC) into school pensions have increased 85 … each year to cover new pension promises and keep up … more

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As part of our efforts on government transparency, we obtained data on the compensation of most public employees in the state. This information has been used to fact check claims about salaries, verify data from other open records requests, and hold government spending accountable.

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