Local pension bill heads to governor
The Legislature has sent Governor Rick Snyder a set of local retirement bills that passed by wide margins once they were stripped of controversial provisions.
The bills stalled last week as local governments and public employee unions protested measures that would give the state sweeping authority over local budgets.
Those were taken out, and now local governments will have their retirement plans assessed by the state Treasury, says state Senate Majority Leader Arlan Meekhof, R-West Olive.
“And then folks that have no financial issues will go on their merry way and continue what they’re doing,” Meekhof said.
But the changes led some lawmakers to withdraw their support.
“Really what I cared about was making sure retirees and active employees too that are promised a benefit actually get paid itm" said state Rep. Thomas Albert, R-Lowell. "I just don’t have a lot of confidence in the current bills will actually achieve that goal.”
The bills would require the state Treasury to examine local retirement funds. Local governments that are under-funded would have to come up with a plan to fix that.