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With the Detroit bankruptcy proceedings beginning to pick up speed, the question remains how or when the Legislature will step in with the state's pledge of $350 million to help offset pension cuts.
This money becomes even more crucial, given police and fire retirees reached a deal to suffer no pension cuts and reports that general system retirees would face substantially lower cuts.
But that's all premised on several factors, including that $350 million proposed by Gov. Rick SNYDER via some tobacco settlement funds.
For the full article, see "Legislature Still In Wait-And-See Mode For Detroit Aid", Inside MIRS Today, April 16, 2014.
Other topics covered include:
• Legislature Still In Wait-And-See Mode For Detroit Aid
• DMC Prenatal Funding Not Likely To Make '15 Budget
• Blues Deposit $100M In Michigan Health Endowment
• Educator Eval Changes Hang In The Balance This Spring
• RGA Hits Schauer For Supporting QAAP Fee That Snyder Extended
• Worthy Backs Totten; Dillard Still Considering Run
• School Must Prove Student 'Willfully' Skipped School Before Pursuing Truancy
• Schauer Deems Education A Top Priority, Calls EAA 'Failed Experiment'
• Unemployment Rate Falls To Lowest Rate In 6 Years
• LARA Must Hold Worker Comp Hearings In Genesee
• Trott Campaign Puts Out Bio Ad
• House, Senate DEQ Chairs OK With Recycling Money
• Pontiac Moves One Step Closer To Post-EM World
Full access to MIRSNews.com is available via the MSU Library electronic resources page. Access is restricted to the MSU community and other subscribers.
he state will give Detroit’s retirement funds its part of an $816 million grand bargain in a lump sum payment to soften pension cuts and shield the Detroit Institute of Arts from creditors.
The state’s pledge would be the equivalent of $350 million over 20 years, though the actual lump-sum payment would be lower.
“The governor has been open to both options,” Gov. Rick Snyder’s spokeswoman Sara Wurfel said. “No official payment structure has been finalized.”
The state initially proposed paying the two pension funds about $17.5 million a year for 20 years from the tobacco settlement fund.
For the full article, see Robert Snell and Christine Ferretti, "Michigan will give funds up front if Detroit retirees approve deal; Board OKs 4.5 percent pension cut for retirees, COLA elimination", Detroit News, April 16, 2014.
Randy Riley has been selected as the next State Librarian for the Library of Michigan.
Randy Riley received his BS in Education, History/Political Science from Central Michigan University in 1984 and a Master of Information and Library Studies from the University of Michigan in 1988. Randy has 24 years of broad based experience with the Library of Michigan including management experience and work with three prominent programs: the Michigan eLibrary, Michigan Notable Books, and the Michigan Center for the Book.
For the first time, Michigan community colleges are granting baccalaureate degrees, thanks to controversial legislation passed in 2012.
Northwestern MichiganCollege was the first to grant the four-year degrees, but plans are under way for similar opportunities at Schoolcraft College in Livonia, Henry Ford Community College in Dearborn and schools in Jackson and Benton Harbor.
Advocates say it’s a major step in higher education to increase options for students, but add they are still lobbying lawmakers to allow community colleges to grant nursing degrees. That provision was dropped from the bill before it became law.
For the full article, see Kim Kozlowski, "Michigan community colleges add 4-year degrees into mix", Detroit News, April 16, 2014.
On April 16, 1927 the Michigan legislature passed a ban on the sale of fireworks, a ban that would remain in effect until December 14, 2011.
On a related note, Michigan skies could be brighter this Independence Day without requiring enthusiasts head to Ohio or Indiana, as Gov. Rick Snyder announced the signing of a law allowing the sale bigger fireworks in the state.
Dave Murray, "Snyder signs fireworks bill intended to spark state economy", Grand Rapids Press via MLive, December 14, 2011.
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