LANSING, Mich. (AP) — Republican legislative leaders remain committed to closing the pension system to new teachers and instead giving them a 401(k) after getting mixed news about tax revenues.
Legislative fiscal agencies say school aid collections will be between $286 million and $364 million higher this fiscal year and next than was projected in January. But the general fund — Michigan’s other main account — will have between $377 million and $492 million less than expected.
GOP lawmakers have left uncommitted hundreds of millions of dollars to potentially transition newly hired teachers away from a pension. Gov. Rick Snyder has reservations.
A spokeswoman for Senate Majority Leader Arlan Meekhof said Tuesday the new numbers aren’t a surprise and the Senate set aside money for retirement changes and to provide flexibility in budget talks.