LANSING, Mich. (AP) - Gov. Rick Snyder and Republican legislative leaders say that have reached a tentative framework on making changes to Michigan's teacher retirement system.
They reported the agreement after a meeting at the Capitol Thursday.
Details are being hashed out.
But the framework calls for newly hired school employees to default into a better 401(k) plan, but leave them the option of choosing a pension plan that would likely cost them more of their paycheck than now.
Current workers hired since 2010 get a blended pension and 401(k).