 school pensions underfunded by 2240000000000 michigan legislators are considering ways to address the underfunding of the school pension system house bill 4190 would change the way that the state apportions the costs of catching up on years of school pension system underfunding under the bill school districts would send in an amount determined by their current operating expenses these include payroll as well as other expenses including payments to vendors the reality is that the legislature must address the issue by closing the current defined benefit system to new employees instead providing them with a defined contribution retirement system read more on the issue at  http wwwmichigancapitolconfidentialcom 18546 