VIDEO: Detroit Cuts Pension Deal With Retired Police, Firefighters

Detroit has reached a deal on pension cuts for retired police officers and firefighters that would help the struggling city advance the largest municipal bankruptcy in U.S. history. Under the agreement, retirees would see a reduction in annual cost of living payments that are attached to the pensions. The city had been proposing a 6 percent pension cut and no cost-of-living payments. It also is tied to the city getting $816 million from foundations, philanthropists and the state of Michigan.

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Fire Engine Co16 DC Posted by author icon hazmatt