"Jim Riley got his own fiscal house in order so he could retire.
Now he wonders why his city government can’t do the same for their employees, and taxpayers who could end with huge bills from the unfunded retirement liabilities.
Riley was inspired to take action after reading the Mackinac Center’s ranking of pension underfunding for Michigan’s largest 100 cities.
Riley was shocked when he saw his seemingly tranquil lakeshore community ranking sixth from the bottom.
He is now alerting his neighbors about this fiscal storm and encouraging them to keep the pressure on city leaders.
The retired financial planner enjoys living in Norton Shores and wants to stay there indefinitely but worries that rising taxes from unfunded pension and retirement healthcare liabilities will chase residents and businesses away, making the problem worse.
He encourages taxpayers and businesses in other communities with similar liabilities to also speak out and that lawmakers pass laws prohibiting underfunding.