Quote Originally Posted by DetroiterOnTheWestCoast View Post
...<snip>...didn't Mayor Duggan say last year that they were going to at least chip away a bit at this hole by contributing an additional $10,000,000 for a few years?
Yes, Duggan did say that in last year’s State of the City Address as described in this FREEP article: http://www.freep.com/story/news/loca...city/80813476/

“He said he will ask the City Council to approve $10 million in extra pension payments in the current budget and another $10 million in the 2015-2016 budget when he presents the budget to the council later this week.”

But who knows if that was ever done?

The above article raises another question for me. It says, “But the actuarial assumptions used turned out to be inaccurate and outdated, raising the 2024 payment to $196 million.” Now that is $31 million more than the FREEP article dated December 12, 2016 that I posted earlier today. Wonder what got them down from $196 million then to $167 million now?

And while $10 million you mention is a lot to you and me, it is small in comparison to the $167 million to $196 million to $252 million [[?) the City must pay in 2024 and every year thereafter for the next 20 years.

Right now they've only saved up $30 million, so it is a long way to go.