Michigan legislative panels debate teacher pension changes

Article Tools
  • PrintPrinter-Friendly
  • EmailEmail Article
  • ReprintReprints
  • CommentsComments

LANSING, Mich. (AP) — Michigan legislative committees are considering legislation to steer more newly hired school employees into 401(k)-only retirement plans after a deal was reached between Republican legislative leaders and Gov. Rick Snyder.

House and Senate panels are holding hearings Wednesday, and majority Republicans are expected to move quickly so the full Legislature can finish passing the bills along with the state budget next week.

Under a new version of the legislation, teachers and other new school workers hired on or after next Feb. 1 would be automatically enrolled in a 401(k) plan unless they opt for a costlier pension within 75 days. There would be a "trigger" provision to stop new entrants from getting a pension in the future if the system is underfunded by a certain amount.


Web Only

Commenting temporarily disabled due to scheduled maintenance. Check back soon.
Ground Rules for Posting
We encourage lively debate, but please be respectful of others. Profanity and personal attacks are prohibited. By commenting, you are agreeing to abide by our user agreement.
All comments are public.

Back to Top Back to Top

Most Popular Stories

Viewed

Emailed

Commented

MORE EDUCATION JOBS >>