LANSING – State Representative Barb Byrum (D-Onondaga) today threw her support behind a bipartisan, bicameral plan that will encourage retirement-eligible teachers and other public school employees to retire in the near future.
"My top priority as a State Representative is to protect education so that we can prepare our students for the good-paying jobs of the 21st century," Byrum said. "This plan will help ensure that students will not have to bear the brunt of the state's budget deficit and cuts to education programs will be minimal."
The plan will give teachers who are eligible to retire the opportunity to receive increased monthly pension benefits – a multiplier of 2.0, which is an increase from the current 1.5 – and could potentially save more than $410 million statewide in its first year. Currently, there are about 90,000 active employees statewide with 30 or more years of service who are eligible to retire.
"This plan will bring a new generation of teachers to our local schools; helping to promote job growth and keep young families in Michigan," Byrum said. "In addition, it will help save money that can be used to balance our lagging school aid budget and create new education programs for our students. I am proud to support a plan that will protect education and allow for investment in programs to ensure our children will be successful and able to compete in the global economy."