We are getting our money back!!! Woo Hoo. The Michigan Supreme Court upheld the lower court ruling that the Legislature violated the constitution by withholding 3% for “Retiree Healthcare“. It is the Civil Service Commission that has the authority to determine our pay and benefits. Accordingly, I will be receiving my money in one of my January paychecks.
I havent sat down to figure out how much yet. I know its over $2000, they have been withholding the money for over a year. I am hoping $1700 after taxes are removed, that combined with my savings and tax return should wipe out credit card #1.
I can’t wait, one less payment to track and worry about. I debated whether to put the money into my 401 or use it toward a down payment on the car. In the end I came to my senses and decided wiping out the debt was more of a priority.
I can’t wait for January. Oh, and my paycheck this week has the 3% back it my net pay.