“Unfunded pension systems have been crowding out government services all over Michigan and the nation.”
Socialist schemes have been crowding out socialist schemes all over Michigan and the nation.
Socialism Is Legal Plunder - Bastiat
BIG GOVERNMENT IS CRONY $OCIALI$M
DISMANTLE the Department of Education.
You cannot guarantee an investor a specific rate of return on market investments, yet in effect all defined benefit pension plans do just this.
Except for the part about them taking less in pay (and benefits) than the private sector..
The state of Michigan eliminated all defined benefit (read: pension) retirements 18 years ago with the exception of State Police and replaced them with matching 401’s. the michigan teachers unions are way behind the curve on this one and they well know it.
CC
“...Christine Stead says it’s time for schools to move away from the traditional defined benefit pension plan she says is taking money out of the classrooms.”
Oh, so it was okay before, but now it is bad. Maroons should have acted long before now.