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Detroit’s Police and Fire Retirement System and the city have agreed to settle a federal lawsuit regarding a repayment schedule over a 30-year period. The agreement gives the city 30 years ...
A former employee of the Retirement Systems of the city of Detroit is the target of a Michigan State ... The Police and Fire Retirement System's board oversees the $2.7 billion fund serving some ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
Teacher Retirement System of Texas: $146,326 $146,326 79.7% 8.0% 7 New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement ...
The case was brought by the Police and Fire Retirement System of the City of Detroit in 2020 and the settlement is paid to Tesla to benefit the company, a type of case known as a derivative lawsuit.
In May 2014, legislation was introduced giving Detroit's retirement systems a $194.8 million lump sum as part of the state's $350 million commitment. If pensioners accepted the deal, they would not be able to sue the state over pension reductions; this was seen as a critical step toward getting support from the Republican-majority legislature.
The police and fire pension system’s board oversees the $2.7 billion fund, which serves some 8,000 retired police and fire retirees and some 3,000 active duty first responders.
The Detroit Police Department has one of the largest percentages of Black officers of any major city police department, reflecting current overall city demographics. Lawsuits alleging discrimination stemming from the influence of affirmative action and allegations of race-based promotional bias for executive positions have surfaced repeatedly.