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 | 9,915.3 | 84,834 | 65.8 | Municipal Employees' Retirement System of Michigan | |
| Michigan Public Schools | 50,857.2 | 414,897 | 60.4 | 99.8 | Michigan Public School Employees Retirement System |
| Michigan SERS | 12,227.9 | 71,537 | 65.4 | 101.2 | Michigan State Employees Retirement System |
| Detroit Police and Fire | 2,834.6 | 12,358 | 70.8 | Detroit Police and Fire Retirement System | |
| Detroit General RS | 1,941.6 | 20,874 | 63.7 | Detroit Employees General Retirement System |
Source: Public Plans Database (as of 2019)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2018
| Fiscal Year | MI | US |
|---|---|---|
| 2001 | 2.3 | 2.9 |
| 2002 | 2.3 | 3.0 |
| 2003 | 2.6 | 3.4 |
| 2004 | 2.5 | 4.2 |
| 2005 | 5.0 | 3.8 |
| 2006 | 3.4 | 3.7 |
| 2007 | 2.9 | 3.9 |
| 2008 | 3.5 | 4.2 |
| 2009 | 3.7 | 4.4 |
| 2010 | 3.8 | 4.6 |
| 2011 | 4.3 | 4.9 |
| 2012 | 4.8 | 5.0 |
| 2013 | 5.2 | 5.2 |
| 2014 | 5.6 | 5.6 |
| 2015 | 6.7 | 5.8 |
| 2016 | 7.3 | 6.1 |
| 2017 | 6.7 | 6.0 |
| 2018 | 6.9 | 6.4 |