DALLAS – Legislation that overhauls retirement benefits for Michigan teachers, headed to Gov. Rick Snyder this week, will make it easier for schools to contain and predict pension costs while significantly increasing state financial investment, according to S&P Global Ratings.

Under the legislation that passed earlier this month, the state can expect to shoulder $24 million in additional fiscal year 2017-2018 costs but over the long term schools will benefit from lower unfunded liabilities and less investment risk, S&P said in a report.

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