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Detroit bankruptcy expected to cause pension pain

A federal judge cleared the way for the largest public bankruptcy in American history, approving a plan that will allow Detroit to reduce the pensions of city workers and retirees.... More A federal judge cleared the way for the largest public bankruptcy in American history, approving a plan that will allow Detroit to reduce the pensions of city workers and retirees. A financial consultant for the city said pensioners may end up with as little as 16 cents on the dollar. Dean Reynolds reports. Less

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