Tagged: pensions

When he presented his budget to the legislature, Governor Snyder explained part of the shared sacrifice would be taxing public and private pensions.  There is no state income tax on pensions right now.  The Governor noted, retirees still use government services.  He also said there are some retirees who are still working, paying the current 4.35% in state income taxes.  He said taxing pensions is a matter of fairness to people of retirement age who are still working.

Kalamazoo has a new balanced budget in place…with no layoffs, tax increases or cuts to city services. City commissioners unanimously approved the 2011 budget plan Monday night.