Michigan Underfunding Pensions!

Mar 13, 2015

Michigan Capitol Confidential has reported that Michigan has underfunded Public Pensions by over $2.2 billion over the past 10 years.  They have reported that Michigan routinely fails to fund the annual required contribution into the pension system.  The article quotes Michael Sharrow, the superintendent at Midland Public Schools when he stated, ““I have found it interesting that the state of Michigan owns this retirement system and controls all aspects of it and yet the unfunded debt is passed on to the School Aid Fund”.  Read the complete article at this address: http://www.michigancapitolconfidential.com/21095 .