A2: Detroit Pensions

The Detroit Free Press looks at a dispute between state legislators and the boards that manage Detroit’s two public pension funds. Lawmakers have introduced bills to bring the pension funds under the control of a Lansing-based nonprofit trust, the Municipal Employees’ Retirement System. The article quotes Bob Stevenson, an Ann Arbor-based pension attorney, who says the Bing administration should restructure the existing boards: “Undoubtedly, the Detroit pension systems have been poorly run, but I don’t think the answer in my view would be to transition to MERS. I would find some means to keep these pension plans autonomous.” [Source]