State Rep. Ann Bollin, R-Brighton Township, today issued the following statement after voting against House Bill 5803. The bill raids $670 million from Michigan’s public school teachers’ retirement fund, commonly known as MPSERS, to help pay for other projects. MPSERS is currently underfunded by more than $30 billion:

“Michigan’s teacher retirement fund is already underfunded by more than $30 billion. Raiding it for other projects is an irresponsible decision that directly threatens the financial security of our educators. Our teachers dedicate themselves every day to shaping the future of our children, and they deserve the certainty of the retirement they were promised. Diverting their retirement funds to unrelated projects is a betrayal of their trust and a slap in the face to their hard work.

“We have an obligation to fund those retirements under Michigan law. We must honor our commitments and stop playing politics with their retirement benefits. We owe it to our teachers to make consistent, responsible payments to reduce this massive debt. Restructuring the debt and adding more flexibility to where these dollars are spent is short-sighted and irresponsible.  I am committed to meeting our obligations, safeguarding their retirement, and ensuring that the promises made to our teachers are kept. Anything less is simply unacceptable.”

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