Detroit bankruptcy expected to cause pension pain
1,419 views · Published 4 December 2013 · 2:46 · Indexed 27 October 2026
Channel: CBS Evening News · 2013 · News & Politics
A federal judge cleared the way for the largest public bankruptcy in American history, approving a plan that will allow Detroit to reduce the pensions of city workers and retirees. A financial consultant for the city said pensioners may end up with as little as 16 cents on the dollar. Dean Reynolds reports.
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