Michigan Freedom Fund President Terri Reid today praised members of the state House and state Senate for approving legislation that addresses schools’ unfunded liabilities by reforming the state’s educator retirement system.
The reforms protect public school teachers’ hard-earned retirements and districts across the state by finally addressing a $29 billion unfunded liability in the public school employees retirement system (MPSERS), while giving new teachers the flexibility they demand in a retirement system.
“Today’s reforms put Michigan teachers and public schools first,” said Reid. “The House and Senate’s reforms will protect Michigan public schools from crippling deficits and ensure teachers get the great benefits they deserve.”
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