An NPR member station
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Our signal in Bonners Ferry and Omak is seriously impaired due to weather— Learn more here.

Pension Deal Would Help Detroit Climb Out Of Bankruptcy

KELLY MCEVERS, HOST:

NPR's business news starts with Detroit cutting a deal.

(SOUNDBITE OF MUSIC)

MCEVERS: After days of intense negotiations, the city has reached tentative agreements with retired police officers and firefighters to preserve their pensions. Pensions of other city retirees would take a hit of 4.5 percent. They were facing a 26 percent cut.

Thousands of active and retired workers will soon vote on the plan and it'll be reviewed by a federal judge. The deal is part of a major effort by the city to emerge from bankruptcy by this fall. Last year, citing a debt of $18 billion, Detroit filed for the largest public bankruptcy in U.S. history. Transcript provided by NPR, Copyright NPR.