Michigan Governor Signs a Teacher Pension Plan that creates a new 401(k)-style defined contribution plan with an automatic employer contribution of 4% of the employee’s salary.

via plansponsor.com,

by Rebecca Moore, PlanSponsor

July 27, 2017

The signed bill modernizes the Michigan Public School Employees Retirement System (MSPERS), and increases the state’s share to defined contribution plans, while reducing the unfunded liabilities of the overall system.

Read the full article.