Lansing, MI – Under Lansing’s Democrat trifecta, common sense hasn’t been so common these days. But a new Democrat plan is so terrible, it has us questioning if common sense has completely abandoned the Democrat Party.
Under a new Democrat package, every state employee will be eligible for a pension retirement plan, paid for by the taxpayers. The plan not only jeopardizes the retirement stability for tens of thousands of current and future state employees, it comes at a whopping $25 billion price tag for Michigan taxpayers.
“If this plan is enacted, billions of tax dollars will be tied up in paying off pension debts for decades to come. It will tie up billions of tax dollars that could otherwise become long-term investments in roads, classrooms, first responders, public transit, and housing,” said Zach Rudat, Advocacy Director for Michigan Freedom Fund. “This is the same failed agenda that drove Detroit into bankruptcy over a decade ago, and hurts city of Detroit retirees to this day. Pensions can be unpredictable for retirees, costly for taxpayers, and extremely dependent on predicting a very unpredictable future. If those predictions are off by even a fraction of 1%, retirees’ futures and the state’s financial stability could be at risk.”
The State of Michigan removed the pension option for state employees during the Engler Administration, a move that saved taxpayers billions of dollars. Republicans also expanded the 401k option to Michigan teachers under the Snyder Administration.
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