Detroit Still Needs $350M From State Lawmakers
Pressure is building for Michigan lawmakers to commit $350 million to Detroit pensions after the bankrupt city reached tentative agreements with pension funds and a retiree group.
Retired police and firefighters would see smaller cost-of-living payments. Other city retirees would see a 4.5 percent pension cut. The $816 million vanishes if retirees don't vote in favor in the weeks ahead.
Republican House Speaker Jase Bolger says deals reached Tuesday are important. But he tells The Associated Press that persuading lawmakers to approve the money soon is difficult because of concerns in the Legislature.
Republicans control the House and Senate.