Comment on Fixing Michigan's Budget-Killing School Employees' Pension Up in the Air

Fixing Michigan's Budget-Killing School Employees' Pension Up in the Air

Anyone seeking evidence that the new state Senate would vote to reform the Michigan Public School Employees’ Retirement System by putting new employees into 401(k) plans may be disappointed. Based on responses from six GOP Senators who were not in office when the question came up for a vote nearly three years ago, the prospect is a murky and tenuous “maybe.” In what was seen as a surprise move at the time, on May 17, 2012, the Senate voted 20-18 to close the pension system to new hires and offer them 401(k)-style plans in its place.

 

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