Risky Bets Cost Detroit Pension Funds $480M
Your Detroit Free Press comes up with a great expose once again. I'm impressed. I don't know how to post the link to the article.
I'm very surprised nobody has already posted a link because it's an important Detroit story. Why does it take a guy in TX to start this thread? It should be of particular interest to all Detroit retirees on the forum.
Go to it folks.
"One more Detroit retiree reporting, sir...
...I've served my time in Hell, Michigan." [[My play on an old Marine Corps take.)
For years I've been saying that the Police Fire Pension Fund was a rare bright spot in Detroit, much brighter than, say, San Diego's pension system that as of last year was around $140M in the red.
Unlike San Diego, Detroit has two pension systems, "general city employees" and "police fire" that are separate entities.