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February 25, 2021
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STATE BUDGET-HEALTH COSTS
(2007-10-02)
(wgvu) - MICHIGAN'S NEW BUDGET MEANS DRASTIC
CHANGES FOR NEWLY HIRED TEACHERS.
THEY WILL HAVE TO CONTRIBUTE MORE INTO THE PENSION SYSTEM AND
WORK LONGER TO GET MAXIMUM HEALTH INSURANCE BENEFITS ONCE THEY
RETIRE.
MICHIGAN EDUCATION ASSOCIATION PRESIDENT IRIS SALTERS SAYS
TAKING MORE MONEY FROM TEACHERS' POCKETS WILL DISCOURAGE THEM FROM
STAYING IN THE PROFESSION.
REPUBLICANS WERE ABLE TO MAKE THE CHANGES PART OF A BUDGET DEAL
THAT PASSED THE LEGISLATURE EARLY THIS MORNING.
TEACHERS AND OTHER SCHOOL EMPLOYEES NOW PAY ABOUT 4 PERCENT OF
THEIR SALARY INTO THEIR FUTURE PENSION. THOSE HIRED IN JULY 2008 OR
LATER WILL PAY ABOUT 2 PERCENT MORE THAN THEIR VETERAN
COUNTERPARTS.
THE STATE ESTIMATES THE CHANGE WILL SAVE MICHIGAN ABOUT 29
MILLION DOLLARS BY THE 2013-2014 FISCAL YEAR.

(COPYRIGHT 2007 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)

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