Tag: the bankruptcy of Detroit
Public employees in Detroit are looking at the prospect of substantial cuts in their pension benefits – not cuts to future benefits but actual reductions in the amount that retirees are currently receiving and current workers have earned to date. As a rule, I hate to see such cuts. People have accepted jobs on t…
The brief’s key findings are: Media stories suggest – especially since the bankruptcy of Detroit – that pensions are the major expense of American cities and could lead to widespread collapse. A comprehensive measure of the cost burden considers how much city taxpayers pay for the pensions of city and county general government workers and teachers. For…
