It Was a Good Year for Bonding, But Little Action on OPEB Front

Carvlin, Elizabeth
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p44
Trade Publication
The article provides an overview of the fiscal condition of Michigan. The state has increased the amount of debt it sold in 2005 due to both refundings and efforts to boost the economy. Michigan's pension system has an overall asset of $52 billion as of September 30, 2004, according to Treasurer Jay Rising. The Michigan State Employees Retirement System has a total asset of $10.1 billion and liabilities of $12 billion. Meanwhile, the state has created the Health Advance Funding Sub Account to fund costs for health care after retirement.


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