State School Employees Must Choose Retirement Option - WLNS TV 6 Lansing - Jackson | Your Local News Leader

State School Employees Must Choose Retirement Option

Posted:

The state's school employees have until Wednesday to choose a retirement option.

Those hired before July of 2010 have three choices:

  • Contribute more to their benefits and retain the 1.5 percent multiplier for their pension
  • Contribute the same amount and receive a 1.25 percent multiplier
  • Freeze their existing benefits and convert to a 401 k style plan

The changes take effect February 1st.

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