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 has been directed by Governor Snyder to provide recommendations on pension and health care reforms in the spring of this year.
There are three hundred and thirty-four local units of government in the state that provide either retiree health care, a retiree defined benefit pension plan, or both. The problem varies across the state; some plans are in good financial shape while other have fallen into debt. “For the past several years the state has been tackling the problem of unfunded liabilities within the state. We anticipate this workgroup will develop serious proposals to address many of the concerns identified as it relates to retiree pensions and healthcare,” said Sean Mann of MLC.
The task force is comprised of subject matter experts who represent labor and management, investment managers, insurance and financial professionals, and legislators. For a full list of members appointed to the task force, please click here.
Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.