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Detroit bankruptcy pension cuts approved, with only half casting votes
Detroit bankruptcy pension cuts approved, with only half casting votes

Detroit’s current and retired city employees have overwhelmingly voted to support a path out of bankruptcy that will include cuts to their pensions, the city said. After a two month campaign both for and against the city’s bankruptcy plan, about 73% of the ballots returned from general retirees accepted the plan, as did 83% of ballots from police and fire department employees and their retirees, according to Kurtzman Carson Consultants, the California company in charge of tabulating the ballots. The so-called Plan of Adjustment asked non-uniform retirees and current employees to accept a 4.5% pension cut, while police and fire employees and retirees will see no cut to their...

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