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 | 13,028.3 | 86,531 | 75.2 | Municipal Employees' Retirement System of Michigan | |
| Michigan Public Schools | 72,507.6 | 394,077 | 71.2 | 116.6 | Michigan Public School Employees Retirement System |
| Michigan SERS | 14,565.1 | 63,816 | 74.4 | 112.1 | Michigan State Employees Retirement System |
| Detroit (MI) Police and Fire | 2,719.6 | 12,755 | 127.3 | 100.0 | Detroit Police and Fire Retirement System |
| Detroit (MI) General RS | 1,768.4 | 19,785 | 66.3 | 100.0 | Detroit Employees General Retirement System |
Source: Public Plans Database (as of 2024)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2024
| 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 | 7.6 | 6.1 |
| 2018 | 8.0 | 6.4 |
| 2019 | 6.6 | 6.2 |
| 2020 | 6.7 | 6.7 |
| 2021 | 6.2 | 6.3 |
| 2022 | 6.7 | 6.7 |
| 2023 | 9.1 | 6.9 |
| 2024 | 8.9 | 7.1 |