Michigan approves teachers' retiree health care plan
The legislation would end state-provided health care coverage in retirement but not force teachers into a 401(k)-style retirement plan.
By Jeff Karoub|June 15, 2012 at 11:59 AM
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LANSING (AP) — The Republican-led Michigan House approved legislation that would affect new teachers by ending state-provided health care coverage in retirement but not force them into a 401(k)-style retirement plan.
The bill, passed by a 57-47 vote, would keep new teachers in a part defined benefit, part defined contribution pension system and offer the option of a 401(k)-style plan. The Senate is expected to take up the legislation later in the afternoon.
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