City council to vote on pension freeze for Detroit workers

Pension freeze expected to save city approximately $25M

Published On: Jan 30 2013 04:04:34 PM EST   Updated On: Jan 16 2013 08:45:39 AM EST
Detroit skyline daytime

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

Detroit money crisis graphic

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