6:25 am
Tue July 29, 2014

No Decision Yet From Task Force on Legacy Costs

Task force is likely to recommend that city take advantage of low municipal bond rates
  • Source: Mlive
  • | Via: Kalamazoo Gazette
The group, which has spent nearly 1,000 hours researching and discussing the topic since it first met in February, will likely recommend the city utilize municipal bonds to combat its $190 million unfunded health care liability. However, dissenting concerns over the risks associated with such a measure prevented the subcommittee from moving forward after a more than 4-hour meeting.
5:12 pm
Wed April 16, 2014

Detroit Pension Board Approves Retirement Benefits Cuts

The Retirement System approved the proposal unanimously, but the process isn't done yet.
A Detroit pension board could vote this afternoon on a deal that would cut pension checks for non-uniformed city workers and retirees by 4.5% and eliminate cost-of-living adjustment increases to retirement benefits. But even if trustees for the city's General Retirement System accept the deal today, the cuts still would have to be approved by the pension fund's nearly 18,000 individual retirees and workers.
8:32 pm
Tue February 4, 2014

Kalamazoo County Commissioners approve changes to retiree benefits

Health care premium percentage paid by retirees will go up to 20% in 2016. The savings will be placed in a trust fund
  • Source: Mlive
  • | Via: Kalamazoo Gazette
KALAMAZOO, MI - It took a significant amount of discussion to reach this point, but the Kalamazoo County Board of Commissioners took steps Tuesday night to help ensure its legacy costs remain in check.
7:34 am
Thu November 7, 2013

Bridge Magazine examines how Portage has no unfunded pension or retiree health care debt

Kalamazoo faces challenge of paying for retiree health care
  • Source: Bridgemi
  • | Via: The Center for Michigan
KALAMAZOO/PORTAGE - A quick drive through Kalamazoo and its bordering neighbor to the south, Portage, reveals some obvious differences. Others are less so. Kalamazoo, older and more ethnically diverse, has its share of historic downtown buildings, a mix of vintage and blue-collar neighborhoods and the campus of Western Michigan University.
9:22 pm
Mon September 2, 2013

Pension obligations for Battle Creek and Calhoun County not fully funded, but not as dire as Detroit's

Calhoun County Administrator says recovery continues from 2008 stock market crash
Employee pension plans in Battle Creek and Calhoun County, like Detroit, aren't fully funded, but officials say they're confident the two governments aren't not facing pension-funding debacle crippling the Motor City. "We have the same scenario that everyone does with the stock market," said Calhoun County Administrator Kelli Scott.