The move aims to reduce the county’s underfunded pension liability.
Jones is asking the city’s pension board to explore putting a check-off box on tax forms to help retirees who took a hit during the Detroit bankruptcy proceedings.
Those hired from 1990 to June 2010 are paying 7 percent to keep their pension intact …
Gov. Rick Snyder reminds low-income Detroit pensioners that they have until the end of the year to apply for special assistance.
Detroit’s main pension fund plans to hold public meetings in early December to discuss upcoming cuts and an opportunity for retirees to apply for financial help.
Companies that insure Detroit bonds and stand to lose millions repeated a pledge to aggressively challenge the city’s bankruptcy plan, a day after retirees endorsed pension cuts and qualified for a bailout led by the state.
A judge still must hold a trial to determine if Detroit’s overall bankruptcy plan is fair and feasible, but support from retirees is vital.
The city of Detroit promised to report the results of voting on pension cuts Monday but declined to disclose the numbers during a morning bankruptcy hearing.
While there are many moving parts to the restructuring, the pension agreement is viewed as a centerpiece.
“Kevyn Orr is in the governor’s office right now, calling in individual lawmakers, trying to explain why they need to vote yes,”