Michigan Education Trust Honored for Financial Excellence
The Michigan Education Trust (MET) has received national recognition for excellence in financial reporting, reinforcing public trust in the state’s efforts to help families save for college.
The Government Finance Officers Association (GFOA) recently awarded MET the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ending Sept. 30, 2024. This is the highest honor in government financial reporting, proving a strong signal that MET is managing plan participants’ education dollars with integrity and care.
“This national award reflects the dedication and professionalism of our MET team,” said Diane Brewer, executive director of MET. “Families can feel confident knowing that MET is not only helping them save for college but we’re doing it with transparency and accountability.”
The report was reviewed by an impartial panel and recognized for its clarity, completeness, and commitment to full disclosure, all of which help families better understand how MET operates and why it is a reliable investment in their children’s educational future.
The MET ACFR was completed in January 2025. GFOA awarded the Certificate of Achievement to MET in September after a thorough review.
What is MET?
MET is Michigan’s 529 prepaid tuition program, allowing families to lock in today’s tuition rates at public colleges and universities across the state. It’s a powerful way to save for college, providing state tax benefits and tax-free growth when used for qualified education expenses.
MET credits can be used at out-of-state and private schools or transferred to other family members if plans change.
Ready to start saving smart for college?
Visit www.michigan.gov/setwithmet to learn how MET can help you give your child a head start on a brighter future.
 State Treasurer Elected President of the National Association of State Treasurers
Following a nonpartisan vote at the annual meeting of the National Association of State Treasurers (NAST), State of Michigan Treasurer Rachael Eubanks has been elected to serve as the organization’s president for 2026.
“Leading the National Association of State Treasurers means sharing the story of the meaningful, bipartisan collaboration happening across the country,” State Treasurer Eubanks said. “From advocating for sound financial practices to championing national programs that benefit all residents, our work is rooted in service and impact. I’m honored to lead an organization dedicated to advancing public finance and strengthening communities nationwide.”
NAST is a nonpartisan organization that supports the nation’s financial leaders in pursuing and administrating sound fiscal policies and programs that benefit the public. Membership is composed of all state treasurers or comparable finance officials across the United States.
As president, State Treasurer Eubanks will serve on NAST’s Board of Directors, lead board and executive committee meetings, guide policy and advocacy efforts, appoint committees, set strategic direction and promote excellence in public finance. The presidency is a one-year term.
Since joining NAST, State Treasurer Eubanks has led efforts to advocate for state interests related to the Federal Data Transparency Act, protect tax-exempt bond financing and expand access to financial education and tools to ensure individuals of all ages and income levels can be empowered to make sound financial decisions. Her previous NAST leadership roles include serving as Senior Vice President, Secretary-Treasurer, Midwest Region Vice President, Chair of the State Debt Management Network and Chair of the Financial Literacy Committee.
To learn more about NAST, visit www.nast.org.
State Treasurer Eubanks was appointed as Michigan’s 47th state treasurer by Gov. Gretchen Whitmer in January 2019. She is dedicated to building upon the Michigan Department of Treasury’s culture of service to all Michiganders and is committed to upholding the long-term fiscal health and stability of our state.
 Chief Deputy Treasurer Elected President of Streamlined Sales Tax Governing Board
Chief Deputy Treasurer Lance Wilkinson has been elected by member state delegates as president of the Streamlined Sales Tax Governing Board.
The Streamlined Sales Tax Governing Board oversees the implementation of the Streamlined Sales and Use Tax Agreement, a multi-state initiative launched in 2000 to simplify and modernize sales tax systems. Its goal is to reduce the burden of tax compliance—especially for remote sellers—by promoting uniform tax rules, centralized registration and simplified administration.
“I am humbled and honored to be elected by my peers to lead this important effort,” Wilkinson said. “Collaborating with other states and the business community to simplify complex sales tax administration is a win for Michigan taxpayers, and I look forward to serving in this role to support both individuals and businesses.”
The Streamlined Sales Tax Governing Board helps make sales tax rules more consistent and easier to follow across states, which benefits individual taxpayers by reducing confusion and promoting fair and consistent treatment whether they shop or sell online or in stores. It also helps protect consumer privacy and supports essential public services by making tax collection more efficient.
Wilkinson was appointed Chief Deputy Treasurer in July 2025. Prior to that, he served as director of the Bureau of Tax Policy, where he led multiple divisions, developed tax guidance in response to legal and policy changes, managed major tax litigation and represented Treasury in legislative and professional forums.
To date, 24 states—representing over 31 percent of the U.S. population—have adopted the Streamlined Sales and Use Tax Agreement.
To learn more about the Streamlined Sales Tax Governing Board, visit www.streamlinedsalestax.org.
State and Federal Earned Income Tax Credits for Working Families Delivered Nearly $3,900 on Average to 665,000 Households this Tax Season
Low- to moderate-income taxpayers received a financial boost this year through the Earned Income Tax Credit (EITC) for Working Families, putting more money back into the pockets of Michigan’s working families.
For the 2025 tax filing season, the Michigan Department of Treasury issued an average state EITC of $890 to approximately 665,000 recipients. When combined with the average federal EITC of $2,966, eligible families received a total average credit of $3,856.
“During the individual income tax filing season this spring, low- to moderate-income taxpayers saw more money in their pockets,” State Treasurer Rachael Eubanks said. “This tax credit is a lifeline for many working families, helping them pay bills, buy groceries and support their households. Michigan’s policies are making a real difference by expanding opportunity for all Michiganders.”
The Michigan Earned Income Tax Credit for Working Families is designed to support working individuals and families with incomes below a certain threshold. The credit can increase tax refunds or provide a refund even if no state income tax is owed.
To qualify, individuals must meet certain federal edibility requirements and file a federal income tax return, even if no tax is owed or there is no requirement to file a return. Taxpayers who qualify for the federal EITC automatically qualify for the Michigan EITC, which is worth up to 30% of the federal credit.
The amount of the federal EITC depends on income, filing status and number of qualifying children claimed as dependents on the taxpayer’s federal income tax return.
In the 2024 filing season, more than 654,000 Michigan taxpayers received the Michigan EITC, with an average credit of $836. The combined federal and state credit that year exceeded $3,600.
The 2025 individual income tax filing season ran from Jan. 27 to April 15. The 2026 filing season will begin in January 2026.
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Watch the Asset Management Champions Program Video Now!
Learn. Connect. Lead Stronger Communities.
From the slide at your local park to the bridges that connect our towns, every piece of Michigan’s infrastructure tells a story. The Asset Management (AM) Champions program is where those stories turn into smarter plans, stronger teams, and safer outcomes for every community.
Registration is now open for Cohort 9 of the AM Champions program. This free, self-paced training equips infrastructure professionals with practical tools to manage assets, make informed investment decisions, and connect with peers across the state.
Through interactive modules and virtual sessions, you’ll learn how to prioritize resources, build collaboration, and lead with confidence in every decision you make about your community’s infrastructure. With more than 700 graduates statewide, AM Champions is a proven pathway for Michigan professionals who want to strengthen systems that serve their neighbors every day.
Earn continuing education credits for Drinking Water and Wastewater professionals, or professional development hours for Professional Engineers, through this comprehensive and engaging program.
Space is limited for each cohort. Take the first step toward becoming an AM Champion and register.
Deadline to apply is January 6, 2026.
 Larry Steckelberg Named Director of the Bureau of Local Government and School Services
Deputy State Treasurer Kevin Smith recently announced the selection of Larry Steckelberg as the new director of the Bureau of Local Government and School Services, effective September 28, 2025.
Larry brings extensive experience to the role, having led the Community Services Division since 2017. In that position, he managed property tax exemption reviews, state property tax collection audits for the School Aid Fund, tax foreclosure responsibilities and principal residence exemption audits. He also supported outreach to distressed communities as a trusted partner, coordinating services to help prevent future financial challenges.
Before leading the Community Services Division, Larry was a senior policy executive and Treasury’s primary contact for Flint activities. He helped coordinate financial support for the city and oversaw the $41 million Drinking Water Credit Program that provided direct assistance to Flint residents.
Larry’s extensive Treasury career also includes roles as legislative liaison, Taxpayer Advocate, administrator of the Customer Contact Division and administrator of the Property Services Division.
Prior to joining Treasury in 2007, Larry worked for 17 years in various positions in the Michigan Legislature. He holds a Master of Public Administration degree from Western Michigan University, a Bachelor of Arts in Economics from Michigan State University and is a Certified Michigan Advanced Assessing Officer.
Please join us in congratulating Larry on his new role and continued service to Michigan communities through the Bureau of Local Government and School Services!
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