Detroit Retirees Vote In Favor Of Pension Cuts
DETROIT (AP) — Detroit appears to be a step closer to emerging from the largest municipal bankruptcy in U.S. history.
According to results from two months of balloting, workers and retirees have approved pension cuts.
General retirees would get a 4.5 percent pension cut and lose annual inflation adjustments.
Retired police officers and firefighters would lose a portion of their annual cost-of-living raise.
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