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To: Libloather
Orr proposed 34 percent cuts to the pension checks of general city retirees and a 10 percent cut for police and fire retirees. Those cuts could be reduced if the city's two independent pension boards agree to the plan.

Why are some retirees more equal than others? If the pensions have to take a hit then all pensioners should take the hit equally.

16 posted on 02/22/2014 4:41:19 AM PST by DoodleDawg
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To: DoodleDawg
Why are some retirees more equal than others? If the pensions have to take a hit then all pensioners should take the hit equally.

They don't want to piss off the cops and firemen enough that they all call in sick, and then what's left of Detroit burns to the ground.

23 posted on 02/22/2014 6:17:47 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: DoodleDawg
Why are some retirees more equal than others? If the pensions have to take a hit then all pensioners should take the hit equally.

The Police and Fire Pensions were run with a modicum of fiduciary responsibility and quite frankly, many of their rank and file have little desire to bail out their brethren who worked in the various other department falling under the General Pension ( see below). It is about the underfunding of each financial entity if you will, with the General being the worst.

Their was a great article on the FR-banned Detroit Newspapers a few years ago about all the sins of the General Pension. Kawame hiring some friends that invested in small businesses that went belly up cost the fund somewhere between 500 million and 1.5 billion in losses, the Annual "Bonus" paid out in good market return years that depleted the fund of needed assets in a time like this are just two examples of horrid mismanagement.

Locally here in the Detwaa burbs I have seen TV interviews of Police and Fire retirees exhibiting no solidarity or willingness to step up to the plate and help the General Pension fund. Interesting....

27 posted on 02/22/2014 6:46:05 AM PST by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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