Last week, we posted an article about a proposal from the West Michigan Policy Forum to borrow money from the Michigan Teachers Pension Fund and use it to pay for the roads throughout the state.
We stated the following:
First, in 2016, the West Michigan Policy Forum was backing legislation that would remove the decades-long contractual agreement between the State of Michigan and the teacher union to remove the state as the primary source to pay teacher pensions and transfer that responsibility to the market. That legislation was adopted, which means the traditional pensions have been eliminated in terms of how they get paid and are replaced with 401k-type plans leaving the teacher pensions in the hands of the speculative capital market. At the time, the Michigan Education Association stated that, “This is a nation-wide attack, led by Enron billionaire Tom Arnold, whose Arnold Foundation is flooding right wing think tanks…
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