The hastened retirement of thousands of Michigan teachers and other school employees hung in the balance Thursday, but lawmakers again failed to agree on legislation to allow it.
That pushed a possible agreement on a retirement incentive plan to next week at the earliest, leaving school districts and teachers wondering how -- or if -- they would cope with a summer surge of retirements and new hires.
And it left unresolved a $415-million shortfall next year in the state School Aid Fund that largely pays for public schools. The retirement plan could save school districts more than $680 million next year, and $3.1 billion over 10 years. School employees who don't retire would pay an additional 3% of wages into the retirement system.
| Newsletter signup | Send us your ideas