Detroit Pension Fund

Former Michigan U.S. Congressman Says State Must Help Detroit PensionersLikely Democratic gubernatorial nominee Mark Schauer says the state must help the Detroit pension fund -- because it's required by the Constitution.
Kevyn Orr Plans Next Steps Now That Detroit Is Officially Bankrupt"I want to say to everyone whose a resident of the city, no one is more aware of the hardship that this is going to cause to a number of different people than me," Kevyn Orr said.
Document Details Nearly $1B In Pension PayoutsA court filing has revealed details of nearly $1 billion in payouts known as the 13th check from a Detroit retirement system.
Detroit Emergency Manager Seeks To Freeze Pension PlansOrr has said the city has underfunded obligations of about $3.5 billion for pensions and $5.7 billion for retiree health coverage.
Report: Money From Detroit Pension Funds MisspentThe report says spending was "effectively robbing" pension funds and contributed to a "significant underfunding" of the funds.
Staffer Of Ex-Detroit City Councilwoman Pleads Guilty To Taking BribesThe former chief of staff of a Detroit pension fund trustee has pleaded guilty to accepting bribes as part of the federal government's long-running corruption investigation in the city.
Union Attorney: Pensions In Jeopardy After Detroit Bankruptcy Filing"I think it's despicable... and I think every Detroit resident will also find that this action is despicable," said Richard Mack, Jr., an attorney for AFSCME Council 25.
Detroit EM Orders Investigation Into Pension FundsKevyn Orr has ordered a fraud and corruption investigation into the police and fire pension fund and general employee pension fund.
Detroit Pension Funds Foot Bill For Trustees' Hawaii TripFour trustees of Detroit's two reportedly underfunded public pension funds are expected to travel this weekend to a Hawaiian resort for a conference, with the $22,000 tab paid for by the funds.
Feds: Detroit Board Trustee Got Baskets Of CashTwo city of Detroit officials have been indicted on charges of corruption involving $200 million and investments in the city's pension funds.
Pension Official Says He Bribed Detroit TreasurerFederal authorities say an executive overseeing $200 million in real estate investments by Detroit's municipal pension has pleaded guilty to conspiring to bribe the city treasurer to get business.
SEC Sues Kilpatrick For 'Influence Peddling'"I think that this is just the tip of the iceberg," Charlie Langton said. "There's a lot of money in the pension fund and for many, many years Kwame Kilpatrick had appointees and had some control. This could even get bigger."
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