Mayor Virg Bernero’s Administration to Have Report Completed This Fall
According to the Lansing State Journal, Mayor Virg Bernero's administration intends to have a report completed this fall that will offer suggestions for the next mayor on how to deal with more than $600 million in unfunded retiree liabilities over the next 30 years.
Bernero and other leaders met Thursday morning at Lansing Community College to get a preview of a study conducted by a Bloomfield Hills based Segal Consulting.
Segal's preview of the study that will be finished next month showed at the least, the city has an estimated $601 million in unfunded pension and healthcare liabilities. The number could reach as high as $675 million.