Governor's Task Force Report On Municipal Retiree Benefits Will Be Released Soon.
Updated On: Jun 25, 2017
The task force created by Governor Rick Snyder to address the unfunded health care and pension liabilities associated with the 334 local governments that provide such benefits to their employees has completed its work and the report will be made public sometime soon.
“My goal for this task force was to have collaboration among legislators, state and local government officials, and employee representatives to ensure the financial stability and effective delivery of local government services for the coming decades,” Governor Snyder said in a statement announcing the Task Force. “As we discuss this growing financial problem across the state, it is imperative that we also keep retirees in mind who rely on these programs.”
The issue of health care and pension unfunded liabilities has become a major issue and came up during December’s lame duck agenda as a possible last-minute item to clear before the start of the new Legislature. But the complexity of the issue crumbled under its own weight, setting it for returning legislators as a priority for this term.
MPFFU President Mark Docherty was appointed to the task force which was comprised of subject matter experts representing labor and management, investment managers, insurance financial professionals and legislators. Governor Snyder tasked the group to provide recommendations on pension and health care reforms.