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Tentative Deal Reached on Big Changes in Michigan's Teacher Retirement System
mLive.com 
June 14, 2012 "The Michigan Legislature is poised to vote Thursday on the biggest changes in the state's teacher retirement system in a generation ... Senate Republicans have agreed -- for now -- to hold off on their plan to move newly hired school employees into a 401(k)-only retirement plan, keeping intact a hybrid pension/401(k) system that has been in place since mid-2010. Older workers will remain in a pension-only, or defined benefit, plan regardless." MORE >> |
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