UP Gazette

State Representative Jaime Greene has expressed support for Michigan teachers and opposition to a state budget proposal that would reportedly draw from their retirement fund. The budget proposals, put forth by Lansing Democrats, could potentially redirect up to $670 million from the teacher retirement fund to finance other priorities. This controversial bill was brought up for voting in the House on Wednesday.

Greene, a Republican from Richmond, stated, “It’s appalling that Lansing Democrats would ever consider raiding the retirement funds of our hardworking educators – let alone cast their vote to greenlight the raid during Teacher Appreciation Week. The teacher retirement fund is there as a promise to our teachers for their years of service and dedication – not to serve as a piggy bank for politicians to dip into whenever they see fit.”

While the segment of the teachers’ retirement system allocated for post-employment benefits such as health care has recently been fully funded, the Michigan Public School Employees Retirement System (MPSERS) still faces a debt of approximately $24.4 billion.

Earlier this year, Governor Whitmer proposed plans to cut payments into the teacher retirement system by $670 million and reallocate these funds towards other projects in her budget proposal. Greene criticized this plan as risky, citing economists' predictions that if the teachers’ retirement fund does not receive this deposit, there is a 50% chance it will underperform and leave teachers’ retirements underfunded.

Despite these concerns, Democrats in both the House and Senate have supported budgets similar to Governor Whitmer's proposal that divert hundreds of millions of dollars away from the retirement system.

In conclusion, Greene said: “Let’s call this what it is: a betrayal of trust to every teacher who selflessly pours their heart into our classrooms. We must prioritize the needs of our educators and reject any attempt to pillage the funds set aside for our retirees.”