GOP leaders still focused on pensions after revenues revised

fake movie money (file photo from February 2016)

LANSING, Mich. (AP) – Republican legislative leaders remain committed to closing the pension system to new teachers and instead giving them a 401(k) after getting mixed news about tax revenues.

Legislative fiscal agencies say school aid collections will be between $286 million and $364 million higher this fiscal year and next than was projected in January. But the general fund – Michigan’s other main account – will have between $377 million and $492 million less than expected.

GOP lawmakers have left uncommitted hundreds of millions of dollars to potentially transition newly hired teachers away from a pension. Gov. Rick Snyder has reservations.

A spokeswoman for Senate Majority Leader Arlan Meekhof said Tuesday the new numbers aren’t a surprise and the Senate set aside money for retirement changes and to provide flexibility in budget talks.

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