Michigan teacher pension reform forging ahead

Published: Jun. 13, 2017 at 2:47 AM EDT
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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.