Gov. Rick Snyder’s state budget on Wednesday will propose a $322 million boost in K-12 school spending, of which $270 million will go to offset increased school retirement costs, a state budget office spokesman said today.
Snyder will call for $11.7 billion in K-12 spending for 2014-15, up from $11.4 billion in 2013-14, said Kurt Weiss, a spokesman for the Department of Technology, Management and Budget.
That’s a 2.8 increase, but only about one-fifth of the increase represents extra money for classrooms. The rest is to cover a Michigan Public School Employees Retirement Systems costs that are still spiking as a result of a 2010 early-retirement offer to teachers and 2009 market losses.