Major pension plans in the state
| Plan Name | Assets (millions) | Participants | Funded Ratio | Percent of ARC Paid | Retirement System that Administers the Plan |
|---|---|---|---|---|---|
| Michigan Municipal | 10,979.7 | 85,405 | 72.5 | Municipal Employees' Retirement System of Michigan | |
| Michigan Public Schools | 59,196.6 | 398,588 | 64.3 | 120.8 | Michigan Public School Employees Retirement System |
| Michigan SERS | 13,064.7 | 66,836 | 69.6 | 99.9 | Michigan State Employees Retirement System |
| Detroit Police and Fire | 2,723.5 | 12,477 | 77.1 | 100.0 | Detroit Police and Fire Retirement System |
| Detroit General RS | 1,790.5 | 19,084 | 65.7 | 104.4 | Detroit Employees General Retirement System |
Source: Public Plans Database (as of 2022)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2022
| Fiscal Year | MI | US |
|---|---|---|
| 2001 | 2.5 | 2.9 |
| 2002 | 2.7 | 3.0 |
| 2003 | 2.7 | 3.4 |
| 2004 | 2.9 | 4.2 |
| 2005 | 3.1 | 3.8 |
| 2006 | 3.3 | 3.7 |
| 2007 | 3.6 | 3.9 |
| 2008 | 3.2 | 4.2 |
| 2009 | 3.3 | 4.4 |
| 2010 | 3.9 | 4.6 |
| 2011 | 3.7 | 4.9 |
| 2012 | 3.8 | 5.0 |
| 2013 | 5.3 | 5.2 |
| 2014 | 5.3 | 5.6 |
| 2015 | 5.7 | 5.8 |
| 2016 | 6.3 | 6.1 |
| 2017 | 7.2 | 6.0 |
| 2018 | 7.5 | 6.4 |
| 2019 | 6.8 | 6.2 |
| 2020 | 6.8 | 6.6 |
| 2021 | 6.2 | 6.3 |
| 2022 | 7.1 | 7.5 |