Pension costs mean tighter budgets for Michigan classrooms
By Tom Gantert | Michigan Capitol Confidential
Livonia Public Schools Superintendent Randy Liepa says his district will pay just under $30 million for its employee retirement pension and health care costs this year.
The district has to spend the money to cover the costs of the state retirement benefits plan, which has an estimated unfunded liability of $24.3 billion.
Just for Livonia Public Schools’ employees, Michigan is chipping in another $6.4 million to cover those Michigan Public School Employees Retirement System costs in 2013-14.
at Michigan Capitol Confidential.
The post Pension costs mean tighter budgets for Michigan classrooms appeared first on Watchdog.org.