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Almost 250 Michigan communities face underfunded pension, health care systems

SEPTEMBER 24, 2018 | WDET 101.9FM (MICHIGAN)

"More than a quarter of all Michigan communitties had pension or health care systems that were under-funded in 2017, according to the Michigan Department of Treasury. The department says 247 communities had systems that were under-funded, totaling about $19 billion. Local governments are considered under-funded by the state if they have pension systems that are funded less than 60 percent and if they have other post-employment benefits (OPEB) systems - which largely consist of retiree health care benefits -- that are funded less than 40 percent."

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