Concerns have been raised about the immediate costs of
closing the MPSERS defined-benefit plan to new hires and placing those hires in
a defined-contribution plan. These costs have been discussed in a Michigan
Senate Fiscal Agency paper titled “Examining a Change from Defined Benefit to
Defined Contribution for the Michigan Public School Employees’ Retirement
System” and in a House Fiscal Agency memo titled “Converting MPSERS from a
Defined Benefit (DB) to a Defined Contribution (DC) System.” The costs were also discussed more recently
in a paper by the Office of Retirement Services.