The Benzie County Board of Commissioners voted during its April 27 meeting to use money given from the state from the sale of recreational marijuana to help pay down the county’s unfunded pension liability.
According to Mitch Deisch, county administrator, the board voted to put the entirety of the county’s share, $84,000 from the sale of state approved recreational marijuana products, into its unfunded pension liability.
The resolution states that as of the latest valuation from Municipal Employer’s Retirement System of Michigan from December 2019, Benzie County’s retirement funds are 65% funded, leaving an unfunded pension liability to just over $7.5 million.