GMRA Statement

Governor Snyder Proposal to Tax Private Sector Pensions

It is time for elected officials to take responsibility for protecting the pensions and benefits of all Michigan retirees in a way that is fair and equitable.

As a region with a strong population of automotive sector retirees, who have already absorbed significant economic losses due to contraction of the automotive sector, additional financial stress would be catastrophic and could further delay an economic rebound in the region.

A proposal from Governor Snyder to tax the pensions of private sector retirees, while exempting the pensions of public (state) employees would negatively affect the retirement security of Michigan retirees and the financial stability of Michigan’s economy.

About GMRA:

The General Motors Retirees Association is a national advocacy organization devoted to the preservation of pension, health care, and other benefits earned by GM retirees through their years of labor and loyalty to GM. GMRA stands for the fair treatment of all GM retirees, including the salaried retirees not already represented by the United Auto Workers. GMRA collaborates with the National Retirees Legislative Network (NRLN). For additional information on GMRA, visit the website at www.gmret.org.

2/16/11