MichiganRadio

Plan Would Take Detroit Pensions To Lansing DETROIT, MI (Michigan Radio) - Detroit Mayor Dave Bing wants to turn the city's pension systems over to a non-profit trust in Lansing.

A bi-partisan group of state legislators has introduced a bill that would do just that.

Bing Administration officials say the move is necessary because the already-broke city will have to contribute one-fourth of its projected revenues to the pensions by 2012.

Detroit City Council President Charles Pugh admits the current pension system is mismanaged, but says he's not sure how he feels about dismantling it.

"Our pension system now is broken. So we need a fix," Pugh says. "Is that the fix? I don't know just yet. I need a little more time to study that, to vet that idea and see what the benefits would be."

Bing admits the plan will face stiff resistance from pension board members, retirees, and some Detroit state legislators.
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