Detroit Bankruptcy Vote Looms

By: AP
By: AP

DETROIT (AP) -- The most anticipated vote in Detroit this summer isn't for a city office. Instead, ballots submitted by city retirees could determine how quickly Detroit exits its historic bankruptcy and how much of the financial weight pensioners will bear.

They are being asked to vote "yes" or "no" by Friday on a proposal to cut pensions for non-uniformed retirees by 4.5 percent and erase cost-of-living allowances.

The proposal also eliminates some cost-of-living payments for retired police and firefighters. Voting "no" could result in deeper cuts to pensions for the city's 32,000 retirees and current and former city workers.

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