$550 million refund headed to schools across state on Monday - WNEM TV 5

$550 million refund headed to schools across state on Monday

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MICHIGAN, (WNEM) -

A $550 million refund to Michigan public school employees is headed to school districts across the state on Monday, but recipients may not see that money anytime soon.

The money is meant for 274,000 former and current school employees who had money taken out of their paychecks for retiree health care. 

Last month, the state Supreme Court said those deductions were unconstitutional. 

If you're one of those folks, you can expect to get your money in 60-90 days. 

The following is a press release from Michigan Office of Retirement Services:

By January 22, ORS will be sending information by email to public school employees who worked between July 2010 and September 2012 giving specific information about refunds of healthcare contributions. The email will include the contribution amounts and interest for each school district.

ORS will be returning the funds to the reporting units on January 22. This does not mean that the school districts will disburse those funds on that date. They have important responsibilities for the recording and tax reporting of these refunds. Generally, you might expect your refund to come to you 60-90 days after the school receives the funds. 

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