No pension cuts in deal reached with Detroit fire, police retirees

The Detroit Free Press reports:

A major association representing Detroit’s police and fire retirees has agreed to support a deal with the City of Detroit in which uniformed pensioners would not receive cuts to their monthly pension checks.

The deal — revealed this afternoon by Detroit bankruptcy mediator Gerald Rosen — comes as the city is also close to reaching a settlement with its Official Committee of Retirees and two independently run pension fund boards.

Rosen said in a statement that the Retired Detroit Police and Fire Fighters Association agreed to support a deal that would involve no cuts to monthly pension checks and keeping “almost half” of annual cost-of-living adjustment increases.

A story to watch.