Detroit Bankruptcy Ruling: Implications for Public Pension Plans

by Thomas A. Dubbs

December 01, 2013


Once the prosperous center of America's automobile industry and the birthplace of Motown music, Detroit now has a new title—the largest bankrupt city in U.S. history. It is also the largest U.S. municipal bankruptcy by debt, estimated at more than $18 billion, including $3.5 billion in unfunded pension liabilities to the city's two largest unsecured creditors—its two pension plans. These plans represent more than 32,000 active and retired city employees whose pensions are now directly at risk in Detroit's unfolding bankruptcy.


For the full PDF version of this article, click here

Insights & Analyses

We're attuned to (often ahead of) the key issues facing the market. Our archive is an arsenal. It's about arming investors with the information they need to make sound decisions.