The Daily Globe - Serving Gogebic, Iron and Ontonagon Counties

Ironwood red-flagged for underfunding pension plan


March 14, 2018


IRONWOOD — The city of Ironwood has been underfunding its retirement pension plan and has been cited by the Michigan Department of Treasury to take corrective actions.

A new law requires local units of government to report underfunded retirement benefits and Ironwood has been cited for underfunding its pension plan. For the first round of reporting, more than 110 out of 490 local units of government were identified as having underfunded pension plans or retirement health care plans, or both, according to the Treasury Department.

Ironwood was incl...

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