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Legislature Passes Contentious Teacher Pension Reform

Jun 16, 2017

On Thursday, the House and Senate passed legislation reflecting an agreement struck between House and Senate leadership and Governor Rick Snyder, which will reform the current public school employee retirement system.  “Prior to the agreement between leadership, the House and Senate gestured their willingness to withhold completing the budgets until later this summer, or even […]

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Legislation Introduced Reforming Retirement System

May 26, 2017

This week, Representative Thomas Albert (R-Belding) and Senator Phil Pavlov (R-Saint Clair) introduced legislation reforming the Michigan Public School Employee Retirement System (MPSERS).  “In 2010 the legislature passed the current hybrid system in an attempt to get the ever-growing unfunded liability to the state under control.  However, there are current members who don’t believe those […]

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Governor Creates Task Force

Feb 10, 2017

On Monday, Governor Rick Snyder announced that he is creating a task force to address pension and health care costs for retirees and municipalities.  The Task Force on Responsible Retirement Reform for Local Government will bring together local and state officials with employee representatives to discuss problems with growing, unfunded, long-term liabilities.  The task force […]

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Senate Moves School Retirement Reform Legislation

Dec 02, 2016

This week, the Senate Appropriations Committee reported three bills reforming pension plans for newly hired teachers.  The legislation would place school employees hired after July 1, 2017, into a 401k plan.  In the new plan, 4% of employee’s salary would go into the 401k, plus there would be an employer match of up to 3% […]

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