(Bloomberg) -- Detroit pension officials should consider accepting benefit reductions that fall hardest on retirees collecting the biggest checks, city emergency manager Kevyn Orr said.
The citys plan to cut debt and exit bankruptcy ought to keep fidelity with a June proposal to pay bondholders and retired municipal workers about $10 billion less than they are owed, Orr said today in a phone interview. He declined to say what he has offered creditors, citing the confidential nature of the talks.
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