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May 9, 2010

Republicans take issue with Dems' push for a Michigan health care trust

Chris Christoff:

The hastened retirement of thousands of Michigan teachers and other school employees hung in the balance Thursday, but lawmakers again failed to agree on legislation to allow it.

That pushed a possible agreement on a retirement incentive plan to next week at the earliest, leaving school districts and teachers wondering how -- or if -- they would cope with a summer surge of retirements and new hires.

And it left unresolved a $415-million shortfall next year in the state School Aid Fund that largely pays for public schools. The retirement plan could save school districts more than $680 million next year, and $3.1 billion over 10 years. School employees who don't retire would pay an additional 3% of wages into the retirement system.

Posted by Jim Zellmer at May 9, 2010 3:23 AM
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