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 | 12,381.2 | 86,029 | 75.2 | Municipal Employees' Retirement System of Michigan | |
| Michigan Public Schools | 63,722.8 | 396,022 | 68.8 | 144.9 | Michigan Public School Employees Retirement System |
| Michigan SERS | 13,344.1 | 65,297 | 71.6 | 103.8 | Michigan State Employees Retirement System |
| Detroit Police and Fire | 2,647.4 | 12,523 | 74.7 | 100.0 | Detroit Police and Fire Retirement System |
| Detroit General RS | 1,733.6 | 19,278 | 68.3 | 100.0 | Detroit Employees General Retirement System |
Source: Public Plans Database (as of 2023)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2023
| 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 | 3.2 | 3.7 |
| 2007 | 3.5 | 3.9 |
| 2008 | 3.1 | 4.2 |
| 2009 | 3.3 | 4.4 |
| 2010 | 3.9 | 4.6 |
| 2011 | 3.7 | 4.9 |
| 2012 | 3.6 | 5.0 |
| 2013 | 5.1 | 5.2 |
| 2014 | 5.3 | 5.6 |
| 2015 | 5.7 | 5.8 |
| 2016 | 6.1 | 6.1 |
| 2017 | 7.8 | 6.0 |
| 2018 | 8.1 | 6.4 |
| 2019 | 6.8 | 6.2 |
| 2020 | 6.8 | 6.6 |
| 2021 | 6.2 | 6.3 |
| 2022 | 6.7 | 6.7 |
| 2023 | 9.1 | 6.6 |