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Michigan Governor Offers Pension Aid to Detroit, with Conditions
Los Angeles Times Link to more items from this source
Jan. 23, 2014
"Michigan Gov. Rick Snyder is recommending that the state Legislature approve up to $350 million to help fund pensions in Detroit ... The money would be put forward only if there was a settlement involving the city, state, unions and retirees, meaning unions would have to drop their lawsuits. Some of those lawsuits revolve around an amendment to the Michigan Constitution that protects public pensions ... Snyder also suggested that the money go specifically to low-income pensioners, and that there be independent fiduciary management of the pension funds to ensure that they're being run effectively."

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