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With over 20% of revenue going to retiree expenditures, state approves East Lansing’s financial plan

DECEMBER 3, 2018 | by Chris Root | EAST LANSING INFO (MICHIGAN)

“The Michigan Municipal Stability Board has approved East Lansing’s Corrective Action Plan, a plan designed to reduce the underfunded status of the City’s pension plans. The Board’s approval took into account that East Lansing is channeling more than 20% of its government operating revenues to pension and retiree health expenditures. The Board’s acceptance of the City’s Corrective Action Plan (CAP) on November 14 means East Lansing’s name will not appear on a public list of local jurisdictions that have pension or retiree health care systems that are inadequately funded without a plan for improvement.”

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