City Of Detroit Pension Holders Await Ruling On Detroit Bankruptcy
DETROIT (WWJ) – City of Detroit pension holders are hoping for the best, but bracing for the worst as they await a judge’s decision on whether Detroit is eligible for bankruptcy.
As Newsradio 950’s Stephanie Davis reports, it’s making for a difficult Thanksgiving holiday for many this year.
Federal Judge Steven Rhodes will announce his decision on Detroit’s eligibility Tuesday.
Retired Detroit Police Officer Gail Turner is among the 20,000 plus pensioners who are waiting, hoping and praying for a favorable outcome:
“I was hoping that Judge Rhodes would consider the fact that retirees who have left the city of Detroit after working so many years and I was hoping that he would take the pensions out of the bankruptcy,” Turner said.
Turner, the vice President of Retired Detroit Police Members Association, says the most disturbing part of this process is that there has not been a good enough effort by city leaders to come up with a plan to deal with the city’s looming debt—-other than to take from retirees.
“I think if the city was forthright and they would let us know exactly what they want, what number they are trying to get to as it relates to finances … something could be worked out,” said Turner.