Tag: Bankruptcy|Benefit cutback|Court decisions|Pension Rights Center|Public pension plans|Social Security|Traditional (defined benefit) pensions
PRC on the Detroit Bankruptcy: Allowing Cuts to Retirees’ Pensions is “Unprecedented and Unconscionable”
The Pension Rights Center released a statement reacting to Judge Steven Rhodes’ decision to permit the city of Detroit to reduce pensions by entering Chapter 9 bankruptcy: “The decision to let Detroit’s bankruptcy move forward means that Emergency Manager Kevyn Orr can proceed with his plan to cut the pensions of the city’s workers and […]
