89.1 WEMU

pension costs

Michigan Capitol
Wikipedia Media Commons / wikipedia.org

Local governments and police and firefighter unions are keeping a close eye on hearings to begin this week at the state Capitol.  GOP leaders are proposing more aggressive state oversight of local retirement funds. 


Retirement
American Advisors Group / flickr.com

It looks like the Legislature will spend much of December fighting over an overhaul of how the state oversees local retirement funds. 


Rick Snyder
State of Michigan / michigan.gov

Governor Rick Snyder is going after Michigan’s mountain of unfunded retiree liabilities.  He created a task force to look into “responsible retirement reform.”

Bill Schuette
State of Michigan / michigan.gov

Michigan Attorney General Bill Schuette is the state’s top attorney, but says he won’t be Governor Rick Snyder’s lawyer if he pursues a particular appeal.   


  Washtenaw County officials are, for now, shelving a plan to sell hundreds of millions of dollars in bonds. As WEMU's Andrew Cluley reports, the money generated from the sale would have covered future retiree health care and pension costs.