Detroit residents gearing up to derail Detroit's bankruptcy
When Olivia Gillon retired from the City of Detroit after working 33 years as a clerk, she was counting on her pension to help her live comfortably. She and her husband have built a lifestyle that relies on the money the city pension system invested on her behalf.
My finances depend on my past employer's promise of a lifetime pension after 30 years or more of service, said Gillon, who lives in Livonia. I have made obligations and entered into agreements with financial institutions based on that promise.
That promise is what Gillon and dozens of others plan to protect Thursday.
Gillon,... read more