Newly hired Michigan public school employees would pay more for their pensions and no longer receive state-provided health coverage in retirement under legislation now headed to Gov. Snyder’s desk.
Some current and former employees will get another chance to pursue a lawsuit against Flagstar Bank over company stock in their retirement accounts.
The Michigan House has approved legislation ending state-provided health care coverage in retirement for new teachers but not a provision forcing them into a 401(k)-style retirement plan.
Michigan Gov. Rick Snyder got the extra police troopers and summer jobs programs for inner city youths he wanted in the new budget, but he failed to get lawmakers to tie education money to student performance or invest as much as he wanted in health initiatives.
New research by the University of Michigan shows that 40 percent of older Americans postponed retirement in the wake of the Great Recession.
Hundreds of active and retired teachers and other school employees crowded into a Senate hearing Wednesday to voice concerns that proposed changes to their retirement benefits would unfairly push more costs onto them and even drive some out of education.
The percentage of U.S.workers who make annual IRA contributions has dropped to a record low 15 percent, according to a new survey commissioned by Greene IRA.
A new study shows 57 percent of workers age 60 plus surveyed said they would look for a new job after retiring from their current company, showing that retirement no longer means the end of one’s career.
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The AARP of Michigan said that it wants the Legislature to repeal the new “unfair and unpopular tax on public and private pensions.”