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No state taxes on Social Security and pension income up to $20,000 (ages 55-64) and $24,000 (65 and older). Property tax exemption up to 50% of the first $200,000 of the value of a residence ...
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
As of summer 2010, the program had paid out $18 million in tuition for about 2,000 high school graduates of Kalamazoo's two high schools and three alternative schools, according to executive administrator Robert Jorth. Most of the money has gone to the University of Michigan, Michigan State University and Western Michigan University.
Drawings for 100 $15,000 prepaid tuition prizes will begin Sept. 12. Entries are due by Aug. 31. 100 Michigan kids will receive $15,000 in prepaid tuition through statewide giveaway
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The net assets of the Defined Benefit plan, valued at $265.8 million as of September 30, 2017, are invested by the Michigan Department of Treasury, Bureau of Investments. In fiscal year 2017, the System paid Defined Benefit plan retirement pensions totaling $23.7 million. [19]
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Michigan counts Detroit Public Schools as the only school district classified as a "first class school district". Circa 2002, due to the state government giving control of the district to the municipal government, the U.S. Census Bureau counted the Detroit district as a dependent school system, though the Census Bureau stated that it was an ...