Michigan Teacher Benefits Laws Change

English: Michigan Gov. Rick Snyder (Photo credit: Wikipedia)

The governor of Michigan signs teacher benefits into law.

Snyder signs teacher benefits changes into law
Posted: 09.04.2012 at 6:36 PM

LANSING (AP) — Michigan Gov. Rick Snyder has signed legislation requiring public school employees to pay more for their pensions and ending state-provided health coverage in retirement for new hires.

The Republican governor signed the overhaul of the Michigan Public School Employees Retirement System on Tuesday. The GOP-led Senate and House passed the legislation this year.

Officials say the measure cuts at least $15 billion from a $45 billion liability on the system. The reductions include a $130 million contribution by the state toward retirement costs.

Read more at Upper Michigan Source.