November 10 2010

The differences between Michigan's private- and public-sector retirement benefits are a concern given the financial status of MPSERS' and MSERS' retirement plans. State taxpayers will be forced to pay an additional $15.1 billion to cover MPSERS and MSERS' unfunded pension liabilities, with $1.6 billion required next year alone. Taxpayers are scheduled to pay further costs of $24.6 billion to $40.2 billion to provide MPSERS and MSERS retiree health benefits, assuming the state continues to offer these benefits at their current level.

Executive summary and link to complete study.