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 -

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