East Lansing’s finances have the city on track for a structural deficit in coming years, but it is properly funding its pension, according to state law.
A state audit in 2017 found East Lansing to have insufficiently funded its pension obligations, and a corrective action plan was put in place by the Michigan Department of Treasury.
At the time, the city’s pension obligations were 54% funded, with $88,143,783 in unfunded accrued liabilities, according to a report by the state treasury department…