The report says spending was “effectively robbing” pension funds and contributed to a “significant underfunding” of the funds.
Nearly 18K state employees don’t have to contribute 4% of their pay to get full pension benefits in retirement because a law requiring the paycheck deductions is unconstitutional, the Michigan appeals court ruled.
Kevyn Orr has ordered a fraud and corruption investigation into the police and fire pension fund and general employee pension fund.
Emergency Manager Kevyn Orr is reportedly prepared to take Detroit into federal bankruptcy court if the city’s 30,000 employees and retirees refuse the reduced payouts.
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If you are the type of person who can’t wait to retire to the good life, you may be surprised meet Judy Hurd.
New York Knicks forward Rasheed Wallace retired again from the NBA on Wednesday after he was unable to recover from a left foot injury.
Michigan cities and townships that provide health care for retired public workers face nearly $13 billion in unfunded costs, with half setting aside no money to cope with a bill gobbling up more of their budgets.
According to the Detroit Lions Twitter account, 12-year NFL and Detroit Lions veteran Jeff Backus is retiring.
A County Sheriff’s attorney says her plan to resolve tens of thousands of dollars in payments mistakenly made to his retirement account doesn’t involve giving back any money.