<span style="font-size: larger;">Michigan legislators are considering ways to address the underfunding of the school pension system.</span><br />
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<span style="font-size: larger;">House Bill 4190 would change the way that the state apportions the costs of catching up on years of school pension system underfunding. </span><br />
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<span style="font-size: larger;">Under the bill school districts would send in an amount determined by their &quot;current operating expenses.&quot; These include payroll as well as other expenses, including payments to vendors.</span><br />
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<span style="font-size: larger;">The reality is that the legislature MUST ADDRESS the issue&nbsp; by closing the current defined benefit system to new employees, instead providing them with a defined contribution retirement system. </span><br />
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<span style="font-size: larger;">Read more on the issue at:</span><br />
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<a href="http://www.michigancapitolconfidential.com/18546"><span style="font-size: larger;">http://www.michigancapitolconfidential.com/18546</span></a><br />