Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Representatives of Detroit's active and retired public workers wait for a meeting in Detroit. (AP Photo/Paul Sancya, File)

After Detroit’s bankruptcy, a nasty surprise surfaced from the wreckage: not just the city itself, but its retirees and would-be pensioners – from police officers to city clerks – would suffer, thanks to an unexpected pension fund shortage of some $3.5 billion.

A firm hired by the emergency manager of the city used a different method to calculate pension values than the one Detroit had used for years, turning what everyone believed was a surplus into a shocking deficit.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.