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Report: Michigan local governments facing unfunded liability of 12.7-billion dollars


LANSING (WKZO) -- Local governments in Michigan are facing a looming financial crisis of unfunded retirement benefits.

A Michigan State University study has found those total at least 12.7-billion dollars for non-pension employee retirement benefits like health care.  Author Eric Scorsone warned state lawmakers Thursday that more Michigan cities, counties and townships will face the fate of Detroit in coming years if the problem isn't addressed.

Detroit is now under an emergency financial manager.