Kalamazoo Times

Kalamazoo Times

Tuesday, March 31, 2020

Michigan reports $5,945,118 in public pension contributions

Government

By Metric Media News Service | Mar 26, 2020

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As of June 2019, Michigan had received $5,945,118 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $5,186,974 was in state pension funds, and the remaining $758,144 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Michigan reported data from 147 pension systems, including 6 state-level pension funds and 141 local-level systems. The total number of pension system members was 313,774 (284,968 at the state level and 28,806 at the local level).

Contributions to Michigan's public pension funds
Local
State
Local & State
Employee contributions
$139,166
$1,042,931
$1,182,097
Government contributions
$618,978
$4,144,043
$4,763,021
State government contributions
$32,964
$975,060
$1,008,024
Local government contributions
$586,014
$3,168,983
$3,754,997
Total Contributions
$758,144
$5,186,974
$5,945,118
Source: US Census Bureau

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State of Michigan

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