Senate Bill 1040

For the last few posts, we’ve carefully taken a look at each of the options of SB1040 (known as Senate Bill 1040), a piece of legislation passed here in Michigan which forces all state school employees to change their retirement pension plans by selecting from one of three options. If you’re just now joining us, you may want to read my SB1040 Introduction post first. Throughout each of the options, there were a lot of ups and downs. Some put more money in your pocket right now while others have better long term potential. In order to really compare each of these options side-by-side, the best way I can think to show this is to graph them over the course of many years starting with Year 0 at retirement. Starting at Year 0, some of the … [Read more...] about SB1040 Pension Plan Options – Conclusions

In this post we’re going to take a look at Option 4 of SB1040 (known as Senate Bill 1040), a piece of legislation passed here in Michigan which forces all state school employees to change their retirement pension plans by selecting from one of three options. If you’re just now joining us, you may want to read my SB1040 Introduction post first.   … [Read more...] about SB1040 Pension Plan Options – Option 4

In this post we’re going to take a look at Option 3 of SB1040 (known as Senate Bill 1040), a piece of legislation passed here in Michigan which forces all state school employees to change their retirement pension plans by selecting from one of three options. If you’re just now joining us, you may want to read my SB1040 Introduction post first.   … [Read more...] about SB1040 Pension Plan Options – Option 3

In this post we’re going to take a look at Option 1 & 2 of SB1040 (known as Senate Bill 1040), a piece of legislation passed here in Michigan which forces all state school employees to change their retirement pension plans by selecting from one of three options. If you’re just now joining us, you may want to read my SB1040 Introduction post first.   … [Read more...] about SB1040 Pension Plan Options – Option 1 & 2

When you were a kid, there were a number of stories and fairy tales about coming to a fork in the road and having to choose the right path to take. Of course, you can only choose one. And once you choose it, there’s no turning back. Some of the roads will lead you to safety, and other will lead you to danger! Unfortunately for the teachers of Michigan and my wife, this isn’t just a child’s story – it’s SB1040. SB1040 (short for Senate Bill 1040) is a piece of legislation that was passed here in Michigan which changes the pension plan options for all state school employees. Basically, each employee has to choose from one of four proposed options before October 26, 2012 that will significantly alter the structure of their pension … [Read more...] about SB1040 Pension Plan Options – Introduction