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 | 11,136.9 | 84,574 | 66.0 | Municipal Employees' Retirement System of Michigan | |
| Michigan Public Schools | 51,456.2 | 406,734 | 60.9 | 99.7 | Michigan Public School Employees Retirement System |
| Michigan SERS | 12,027.5 | 69,930 | 65.6 | 102.0 | Michigan State Employees Retirement System |
| Detroit Police and Fire | 2,606.0 | 12,523 | 66.6 | Detroit Police and Fire Retirement System | |
| Detroit General RS | 1,760.4 | 19,054 | 60.2 | Detroit Employees General Retirement System |
Source: Public Plans Database (as of 2020)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2019
| 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 |
| 2019 | 7.0 | 6.2 |