Detroit bankruptcy a cautionary tale for municipal workers


“Detroit’s emergency manager Kevyn Orr brought forth a bankruptcy filing that would give current and future retired city workers 10 cents on the dollar of pension benefits they had accrued.”

“Experts feel the biggest threat to Canadian municipal pension plans is a looming bill of about $200 billion to replace aging infrastructure. If money is borrowed, the charge for paying off debt is bound to increase, as lending rates currently near historic lows will eventually rise.”

 

 

To read the full article on The StarPhoenix click here.

 

 

 

 

 


About Centre for Civic Governance

The Centre for Civic Governance works to support community leadership meeting today’s social and environmental challenges: climate change, Canada’s increasing equity gap, and shifting social trends. At the Centre for Civic Governance, our goal is to strengthen Canadian communities through sharing best practices, providing tools for locally elected leaders, and progressive policy analysis. We strive to provide knowledge and information to make real and positive social change.