123 Michigan Communities Get $553M in Pension Relief

The Center Square YT

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September 25th, 2023

DESCRIPTION

More than $553 million in funding to underinvested pensions will flow to 120 Michigan communities. The Protect MI Pension grant program, a $750 million appropriation included in the fiscal year 2022-23 budget, allows local municipal units with pension plans funded below 60% as of December 2021 to receive state funds.

The Center Square YT

The focus of The Center Square's work is state and local level government and economic reporting. A taxpayer sensibility distinguishes our work from other coverage of state and local issues. As a result of this approach, our audiences are better informed about the focus of state and local government and its cost to the citizens whose tax dollars fund governmental decisions.