Prepared for
Coalition for Secure Retirement–Michigan
The Coalition for Secure Retirement–Michigan hired Public Sector Consultants to research and write an analysis of Senate Bill 1040, which was introduced in the Michigan Senate. Senate Bill 1040 seeks to decrease the retirement costs under the Michigan Public School Employees Retirement System (MPSERS) for employers through a combination of reducing benefits and increasing the share of retirement costs borne by active and retired members of MPSERS. The PSC analysis includes a description of the current status of MPSERS, including the types of pension and health care benefits currently offered to members, a discussion of the current financial status of MPSERS, and a discussion of the impact of Senate Bill 1040 on both the financial status of MPSERS and on current and retired members of MPSERS.
A copy of the full report is available below.