A post-election headline in Bridge summarized expectations for an “active” “lame duck” session of the Legislature. We didn’t know the half of it. Ending at 4:30 a.m. last Friday, the Michigan Legislature passed almost 300 bills in the holiday season, including fundamental changes in how Michigan handles unions, business taxes, abortion regulation, welfare limits and even […]
MPSERS
Posted inMichigan Government
Retirement lawsuit bites into school budgets
When legislative reform of the Michigan Public School Employee Retirement System promised to cap school districts’ contributions at a flat 24.46 percent of payroll, many administrators reached for something else to uncap, in celebration. However, months later, with challenges to the reforms working their way through the courts, the bottle being opened might be holding […]
Posted inMichigan Government
Senate poised to tweak teacher retirement plan; major shift deferred in face of cost estimates
When the Legislature reconvenes tomorrow, the question of what to do about the Michigan Public School Employee Retirement System – or MPSERS – may get a clear answer from the Senate. After failing to approve a House of Representatives reform plan on repeated occasions, or coalesce around their own change, the Senate appears ready to […]
Posted inMichigan Government
Millions at stake for schools as Senate considers teacher retirement change
David Campbell, superintendent of the Livingston Educational Service Agency, has been watching the debate over reform of the Michigan Public School Employees Retirement System (MPSERS) for years from multiple perspectives, as a public school administrator charged with spending scarce resources, and as a future pensioner himself who will feel the effects of the reforms. All of […]
Posted inMichigan Government
GOP leaders eye state contribution in tweak to MPSERS reform bill
Confronted with concerns that a bill to revamp the teacher retirement system would lead to a mass exodus of veteran teachers this year, Republicans who control the Legislature are tinkering with Senate Bill 1040 to reform the Michigan Public School Employees Retirement System. Faced with $45 billion in unfunded liability and with contributions from school […]
Posted inTalent & Education
Everybody feels our pain
From the comments piling up on Bridge’s stories about school-employee pension reform, both here and at Mlive, where Bridge shares content, you’d think…well, you’d think a lot of things. For a topic that involves actuarial tables and lots of numbers, it gets blood boiling like few others. But if there’s one takeaway I hope every […]
Posted inMichigan Government
Teacher retirement fund has $45 billion hole
When something once vital and secure dies, it must be mourned. And so David Campbell, superintendent of the Livingston Educational Service Agency in Howell, likes using the language of a funeral director when discussing Michigan’s retirement program for school employees. “We’re in the middle of a grieving process,” he said recently, going through stacks of […]
Posted inMichigan Government
GOP fix for MPSERS calls for bigger checks from teachers, retirees
The way state Rep. Rick Olson sees it, there are only three places to find a solution to financial problems in the Michigan Public School Employees Retirement System. “Increased contribution by employees, reductions in benefits — or find a magical money tree somewhere,” the Saline Republican said. With no magic to call on, a group […]
Posted inMichigan Government
Educators see violation of trust in pension proposal
When Kathy Kapera started working as a Michigan teacher in 1976, she made about $7,000 a year. Over the course of her career — most of it spent teaching hearing-impaired children in Royal Oak — she earned a master’s degree, and steadily accumulated seniority and experience that all led to the moment in 2010 when […]
Posted inMichigan Government
Teacher pension gaps pop up around Great Lakes
As dire as conditions are for the Michigan Public School Employees Retirement System, be advised it could be worse. Just look at Illinois. Across the country, pension funds are suffering from the same confluence of factors, including rising health-care costs, falling returns on investment, lax oversight and more. It is very difficult to directly compare […]