GRS Is Pleased Members Voted To Support City's Plan Of Adjustment
DETROIT, July 22, 2014 /PRNewswire/ -- Editor's Note: The following statement may be attributed to Tina Bassett, spokesperson for the General Retirement System for the City of Detroit.
"We are pleased that the members, retirees and beneficiaries of the General Retirement System for the City of Detroit overwhelmingly voted to approve the City's fourth amended Plan of Adjustment.
"We believe we helped negotiate the best possible deal up for a vote and approval of this plan is the most favorable outcome to a very difficult and uncertain situation.
"While no one is happy that our pensions have been reduced, the plan does provide for the opportunity of restoration of our benefits.
"We believe this plan should be confirmed so the city of Detroit can get out of bankruptcy and begin working toward a more solid and better future."
SOURCE General Retirement System for the City of Detroit