LANSING, Mich. (WILX) -- Republican Gov. Rick Snyder and GOP legislative leaders are expected to meet this morning behind closed doors to finalize a teacher pension reform plan and finish the 2018 state budget by the end of the month.
Snyder, Senate Majority Leader Arlan Meekhof and House Speaker Tom Leonard released a “tentative framework” last Thursday for a teacher pension deal. The plan would guide new hires toward 401(k)-style retirement savings accounts but not fully eliminate a “hybrid” pension option.
It's not yet clear if the plan will get support from Democrats. The plans details are expected to be finalized today and later debated in a publice committee hearing as soon as this week or next week.