TITLE

Detroit Council Approves $1.2 Billion Taxable Pension Plan

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/8/2005, Vol. 351 Issue 32066, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the issuance of a taxable pension obligation certificates through a new nonprofit entity in Detroit, Michigan. Council approval of the plan to pay the city's unfunded pension liabilities; Reduction in yearly interest payments by issuing certificates at a lower interest rate that its current pension obligations; Initiative to avoid the addition of long-term debt to the accounting records.
ACCESSION #
15987492

 

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