Hauck opposes $670 million raid from teacher retirement fund

Hauck opposes $670 million raid from teacher retirement fund

LANSING, Mich. — Sen. Roger Hauck, R-Mt. Pleasant, issued the following statement on Friday after the Senate voted to take $670 million from the Michigan public school teachers retirement fund to help fill spending gaps in the upcoming fiscal year budget:

“Balancing our budget is a deliberate process that takes diligence and careful consideration. We were handed this legislation moments before a vote as a way to balance the books and cover other irresponsible spending in the fiscal year 2025 budget. Despite the Republican caucus’ no votes, the partisan legislation was passed by the current Democrat majority.

“This plan takes $670 million that was supposed to help pay down debt in the teachers’ retirement fund. We have worked to pay down this debt in recent budgets, and we need to continue working to reduce this liability as quickly as possible to ensure school retirees receive the benefits they have been promised. This ill-advised raid takes a major step in the wrong direction.

“If we have to rely on raiding the retirement fund of Michigan’s teachers to balance the books, that means we went wrong somewhere. The sensible thing to do would be considering areas to cut spending, not simply take more from taxpayers and put the already underfunded teacher retirement fund further at risk.

“I oppose this legislation and the idea that raiding the teacher retirement fund is a viable solution to cover overspending. It simply continues the trend of racking up debt and sticking future generations with the bill.”


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