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Detroit pension proposal would shut out new hires
Associated Press ^ | Sep 27, 2013 5:42 PM EDT | Corey Williams

Posted on 09/27/2013 6:49:11 PM PDT by Olog-hai

State-appointed emergency manager Kevyn Orr wants to overhaul Detroit’s two pension systems by shutting out new workers and freezing benefits for current members. …

In July, Orr made Detroit the largest U.S. city to file for bankruptcy protection. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Government; News/Current Events; US: Michigan
KEYWORDS: bankruptcy; detroit; emergencymanager; pensionfreeze

1 posted on 09/27/2013 6:49:11 PM PDT by Olog-hai
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To: Olog-hai

lol

We got ours, so long - sucka


2 posted on 09/27/2013 6:50:07 PM PDT by GeronL
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To: Olog-hai
Detroit is way behind the curve in pensions. The state of Michigan went from pensions to 401 k in 1997. Most local governments did the same many years ago.

CC

3 posted on 09/27/2013 7:55:06 PM PDT by Celtic Conservative (tease not the dragon for thou art crunchy when roasted and taste good with ketchup)
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To: Olog-hai
click the pic...

4 posted on 09/27/2013 8:14:22 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY)
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To: Springman; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; madison10; ...
I step away from the computer for a day and I'm overrun with new stories.

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Michigan legislative action thread
5 posted on 09/28/2013 5:16:32 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Olog-hai

I think it was Saginaw that cut their full time city employees from 500 to 20.


6 posted on 09/28/2013 5:17:23 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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