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Detroit pension officials handed out about $1 billion in bonuses from the city’s two pension funds to retirees and active city workers from 1985 to 2008. That money — mostly in the form of so-called 13th checks — could have shored up the funds and possibly prevented the city from filing for bankruptcy. If that money had been saved, it would have been worth more than $1.9 billion today to the city and pension funds, by one expert’s estimate.

So this is nothing new for failure-inducing chuckleheads.

1 posted on 01/30/2014 4:57:06 AM PST by TurboZamboni
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To: TurboZamboni

And, don’t forget, the original administrator of the program took a vacation as the system was rolled out and was crumbling. More proof government can’t efficiently handle a program, and Obamacare, MNSure, etc. are proving it more every day.


2 posted on 01/30/2014 5:01:03 AM PST by From The Deer Stand
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To: TurboZamboni

They probably got a bonus for delivering it “on time.” It didn’t work, but they met their date.


3 posted on 01/30/2014 5:04:09 AM PST by informavoracious (Open your eyes, people!)
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To: TurboZamboni

Dayton took “responsibility” for the debacle. So get your check book out Marky.


5 posted on 01/30/2014 7:07:24 AM PST by DManA
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