Here’s Why You Should Care About Changes to Michigan’s Teacher Retirement System
Republican-backed bills would steer new teachers toward a 401(k)-style plan as opposed to a hybrid pension plan.
Bills moving through the state Legislature would make major changes to Michigan’s teacher retirement system.
The Republican-backed bills would steer new teachers toward a 401(k)-style plan as opposed to a hybrid pension plan. The Michigan House and Senate have both passed their own versions of the legislation, and it looks likely the bills will head to Gov. Rick Snyder’s desk within days.
WDET’s Jake Neher and Michigan Public Radio’s Cheyna Roth talk about why you should care about the Michigan Public School Employees Retirement System (MPSERS) and plans to overhaul it.
“Although, if you’re like me and your eyes just glaze over whenever someone talks about your retirement, it is an important consideration for people deciding where am I going to put my roots down as a teacher,” says Roth, who also points out that it’s a huge part of the state budget. “I know people get a little queasy when we talk about the budget… but it really kind of comes down to how our tax dollars are being spent… and what the priorities are there.”
Click on the audio player above to hear the full conversation.
