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John Kennedy: Detroit s bankruptcy still highlights risk of pension liabilities

John Kennedy: Detroit s bankruptcy still highlights risk of pension liabilities John Kennedy Getty Images/iStockphoto Young male science teacher explaining main rules and formulas in physics and mechanics for pupils. A boy is drawing on the blackboard. STEM disciplines, Math education concept CRAIN S FORUM ON CITY PENSIONS On the cliff s edge: Detroit s decadelong break from pension payments is coming to a close. Will it be ready? Battle not over: Detroit, retirees at odds over spreading out costs Stephan Currie: Want to fully fund pensions? Stop the Legislature s diversion of property taxes Detroit firefighter: Speed city s pension payments over 20 years to avoid 2034 shortfall

Cost Of School Pension Underfunding In 2021: 42% Of Teacher Payroll Expense

Politicians overpromised, managers filled gap with rosy scenarios, taxpayers on the hook By May 11, 2021 The growth of Michigan’s school employee pension fund has fallen short of projections made by its managers almost a decade ago. The price is now being paid by school districts that must spend millions more than anticipated in an attempt to shore up unfunded pension promises. That’s according to a new analysis from the Mackinac Center for Public Policy, which says that the state’s Office of Retirement Services forecast in 2012 that school districts would have to contribute about 31% of their payroll costs to fund retirement

Teacher retirements in Michigan up 44% since August

Teacher retirements in Michigan up 44% since August
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