Detroit Retirees Sue City to Stop Pension Cuts, And Request to Have PA 436 Repealed

[Wesley Mouch]

The percentage of funding of the pension funds means nothing to this discussion. The funds could be funded at 150% but Orr is talking about cutting back or eliminating the pension payouts and foregoing payments for existing employees. The funds don't do you much good if you're not getting paid anything.

Novine, I don't think there's much talk about eliminating pension payouts. But adjustments are on the table. That's all. Why can't adjustments be on the table?

Me, I expect that city pensioners [[and that has included my family) will be treated fairly. There will be adjustments. Not elimination. Let's protect those with small pensions, and adjust those with more than is needed to support a decent retirement. Does anyone here think we need to have any pensioner making $100,000 a year?

[corktownyuppie]

The percentage of funding of the pension funds means nothing to this discussion. The funds could be funded at 150% but Orr is talking about cutting back or eliminating the pension payouts and foregoing payments for existing employees. The funds don't do you much good if you're not getting paid anything.

Existing employees? Ha. Every municipality in the country is transitioning away from a defined benefit and toward a defined contribution. That needed [[and still needs) to happen in Detroit with or without bankruptcy. One could argue that the delay in doing this change has only accelerated our spiral into insolvency.

[Eber Brock Ward]

Also, remember that the Supreme Court said that corporations are people, too. :P