Lansing politicians from both sides of the aisle decided late last night to balance their state budget problems on the backs of middle-class teachers and support staff, instead of working on real reforms to move Michigan forward.
The Senate, led by Senate Majority Leader Mike Bishop, and the House (also led by Bishop, although state Rep. Andy Dillon is “technically” Speaker of the House) passed “compromise” bills that call for school employees to pay 3% of their salary for retirement benefits -- that may not be there when they retire!
This morning on WJR, Senate Majority Leader Mike Bishop told Frank Beckmann and his listeners that the House version of SB 1227 (the pension reform and early retirement legislation) would cause some pensions for school employees in excess of $100,000 per year.
Apparently, the Senator either hasn't bothered to read the bill or he has no clue how pensions are calculated...perhaps both?
Here's a little lesson for Senator Bishop...