Detroit makes deal with retired police officers, firefighters -

Detroit makes deal with retired police officers, firefighters

Posted: Updated:
DETROIT (AP) -- The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions.

Under the agreement, retirees would see a reduction in annual cost of living payments that are attached to the pensions. The deal was announced Tuesday by mediators who have been negotiating privately with all parties in Detroit's bankruptcy.

The city had been proposing a 6 percent pension cut and no cost-of-living payments.

The deal still is subject to a vote by approximately 6,500 retirees and review by a bankruptcy judge. It also is tied to the city getting $816 million from foundations, philanthropists and the state of Michigan.

Lawmakers still haven't approved the state's $350 million share.
  • Download the FOX 2 Apps

  • FOX 2 News Five-Day Forecast
Powered by WorldNow

3501 Performance Rd.
Charlotte, NC 28214
Main Number: (704) 398-0046

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices