Detroit emergency officials meet with pension reps

DETROIT (AP) — A group of Detroit pension and union leaders have met in the first of two closed-door meetings with the restructuring team of the city’s state-appointed emergency manager.

Kevyn Orr wants huge cuts in pension benefits and health insurance to avoid the largest municipal bankruptcy in U.S. history.

Some attending the first two-hour session Wednesday at City Hall say no numbers or financial figures were given during the meeting.

Detroit General Retirement System general counsel Michael Van Overbeke says the sides talked about agreeing on how to proceed under a restructuring plan Orr presented last month.

Members of Detroit Police and Fire Retirement System began meeting about 3:30 p.m. with the Orr’s team.

Some bankruptcy experts say the session could be the tipping point that leads to an unprecedented bankruptcy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s