This summer, Midland officials have pushed to figure out how to address a multimillion dollar deficit in the city’s firefighter pension, but recently efforts to stabilize the fund have slowed.
Currently, the Midland Firemen’s Relief and Retirement Fund doesn’t have enough money to pay for the retirement benefits promised to the city’s roughly 250 firefighters. According to a recent audit, the fund is short approximately $121 million, and that number is expected to continue growing.
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