City council to vote on pension freeze for Detroit workers
Pension freeze expected to save city approximately $25M
Members of Detroit City Council are expected to vote on a proposal to freeze the pension credits for a year for city employees.
Detroit Mayor Dave Bing has said the pension freeze would save the city approximately $25 million.
Read more: Detroit mayor says he has plans to save city millions
The freeze would be applied to all employees who are eligible for pensions through the city’s General Retirement system – including firefighters and police.
A state of Michigan audit of Detroit’s financial crisis is complete and showed Detroit operating at a deficit of $327 million.
Special section: Detroit in financial crisis