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Detroit retiree urges council to restore pension cuts made during bankruptcy
Summary
A City of Detroit retiree told the District 1 meeting that pension reductions implemented around the bankruptcy have not been remedied and urged the council to take further action on retiree restitution.
William M. Davis, a City of Detroit retiree, told the council that retirees continue to suffer after pension reductions tied to the city's bankruptcy and that many have died while awaiting restitution.
Davis said retirees took cuts beginning in 2013, including a 4.5 percent pension cut, a 15.5 percent annuity clawback and a retroactive cost‑of‑living adjustment. “I don't think none of y'all could live on 55% of what y'all was making in 02/2013,” Davis said, and argued that inflation and time have further eroded retirees’ purchasing power.
He said more than 3,000 retirees have died “under y'all watch” and urged the council to act to return funds that were reduced or taken. Davis referenced ARPA dollars and suggested those funds were expected by some retirees to help address pension shortfalls. The council did not take a formal vote or issue a response recorded in the meeting transcript.
