City Workers Fret Over Pensions As Detroit Enters Bankruptcy
By: Quinn Klinefelter
December 3, 2013
A federal judge has ruled Detroit qualifies for bankruptcy. But the cash-strapped city, laden with roughly $18 billion in long-term debt, faces a long road to regain financial solvency. Unions whose members face pension payment cuts are appealing the ruling, and the ultimate decision about paying the pensions may be made by the U.S. Supreme Court.
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