Huffpost Detroit

Wayne County Taxpayers On Hook For $600M As Generous Pensions Drain Fund

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Wayne County taxpayers face a mounting bill -- now more than $600 million -- to cover the deficits in a county pension plan that was fully funded when County Executive Robert Ficano took office in 2003 but has since taken a steep dive.

The plan, with its shrinking assets and vast obligations, is in dire condition, experts say.

Read the whole story at Detroit Free Press