DETROIT (WXYZ) - Mediators in Detroit's bankruptcy plan announced today the Board of Directors for the Detroit Retired City Employees Association voted to support the proposed Plan of Adjustment.
The board says they support the treatment of pension and health benefits for retired general city workers in the proposed plan.
The DRCEA is the city's largest employee association with almost 8,000 members, which is almost 75% of the eligible retirees.
Under the plan, city retirees will experience a 4.5% cut in pension benefits, as well as a loss of COLA, the cost of living agreement.
COLA can be restored depending on the performance of the General Retirement System under the plan of adjustment.
Also, the general retirees will have a voice in the establishment of the voluntary employee benefit account.