Saturday, September 29, 2012

Judge strikes down law affecting long-term state employees' pensions

Judge strikes down law affecting long-term state employees' pensions | MLive.com
An Ingham County judge on Friday struck down a requirement that long-term state employees contribute 4 percent of their pay to stay in a defined benefit pension plan as opposed to switching to a 401(k)-style system.
The ruling by Circuit Judge Joyce Draganchuk is a win for workers hired before April 1, 1997, who get a traditional pension benefit.
All new hires after that qualify for a defined contribution plan.

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