Rep. Albert talks about the signing into law Thursday of legislation reforming the Michigan Public School Employees Retirement System, or MPSERS, a move he says will ultimately lead to more dollars in the classroom, while capping future retirement liabilities and providing a modernized retirement system for new school employees. Rep. Albert spearheaded the plan in…
Rep. Thomas Albert, R-Lowell; audio on House passage of public education retirement reform legislation
Rep. Albert speaks on the House floor Thursday prior to House passage of his HB 4647, which modernizes the Michigan Public Education Retirement System for new employees.
Rep. Albert, the sponsor of HB 4647, the plan to reform the teacher pension system for new hires, talks about his testimony on his legislation before the House Education Committee Wednesday morning.
Rep. Thomas Albert comments on legislation he introduced on Tuesday to reform Michigan’s public school employee pension system by closing the system to new hires and introducing a more-modern 401K program. Rep. Albert says the current pension system has unfunded liabilities of about $40 billion.
First-term member Rep. Albert looks ahead to the next two years on the first day of the 99th Legislature on Wednesday.