Retiree Protection Fund, in millions

The city of Detroit will owe an estimated $202 million a year starting in fiscal 2024 for legacy pension payments under the Plan of Adjustment created as part of the city’s 2013-14 bankruptcy. Detroit deferred most of its pension debt for a decade while it sought to invest in the city and improve floundering city services. It’s got a cushion it’s been building up in a specialized fund, the Retiree Protection Fund. But that won’t be enough to quash its debt.

Source: Detroit Office of Budget data from Mayor Mike Duggan’s March 5 proposed fiscal 2021-22 budget presentation Get the data