In response to:

Fiscal Cliff: Michigan Union Experiencing Same Pension Headache it Forces on Schools

tgwWhale Wrote: Dec 03, 2012 9:25 PM
ALL defined-benefit pension plans are unsustainable, from Social Security on down. The temptation to promise the moon to current people and expect future people to pay for the moon is just too strong. The MEA simply has a more-poorly run (and probably more-corruptly run) pension plan than some others, so it went bust more quickly. But they all will go bust. It couldn't happen to a nicer bunch of people... ;-)

When it rains it pours for the Michigan Education Association.

It was recently defeated on Election Day when it attempted to pass a ballot proposal that would have enshrined collective bargaining in the state constitution. Now it’s in full panic mode about a rumored Right to Work bill that may be introduced in the state legislature.

So as the union’s power is waning, it appears the cupboard may be going bare, too.

The MEA has been foundering under staggering liabilities for the last few years, and it may have just gone over the cliff.

Despite only a minor drop...