One-on-one with Gov. Snyder: Pensions, bankruptcy and the future

One-on-one with Gov. Snyder: Pensions, bankruptcy and Detroit's future

Posted: Updated:
(WJBK) -

Gov. Rick Snyder says he has high hopes for the future of Detroit, despite the city's bankruptcy.

In a one-on-one interview with Fox 2's Huel Perkins, Snyder again insisted filing for Chapter Nine protection was the best way to preserve the city's current cash flow and begin the process of restoring services to the people.

He refused to say how much retiree pensions might be cut in negotiations but said no one will lose their entire pension, explaining "to the degree they have vested pension benefits that are funded, those aren't part of the bankruptcy. It's really the unfunded portion of the pension that's subject to this plan of adjustment."

He adds, "It's terrible we ended up in this circumstance. This is 60 years of neglect in terms of how the city's been managed, in terms of that and the pension funds. So, the tough part is we need to work through this in some thoughtful, constructive ways. So, again, hopefully [pensioners] know people are being sensitive to their needs."

VIDEO: Click on the video player above to watch the full, raw one-on-one interview with Gov. Snyder

  • Local NewsLocal NewsMore>>

  • Detroit police seek missing Amber Smith, 29

    Detroit police seek missing Amber Smith, 29

    Tuesday, September 2 2014 1:18 PM EDT2014-09-02 17:18:21 GMT
    Detroit police are asking for the public's help locating 29-year-old Amber Smith.
    Detroit police are asking for the public's help locating 29-year-old Amber Smith.
  • YOUR PHOTOS: First day of school 2014

    YOUR PHOTOS: First day of school 2014

    Tuesday, September 2 2014 11:08 AM EDT2014-09-02 15:08:59 GMT
    It's back to school day!Many kids are heading back to school today. Is yours? We'd love to see your Back to School photos.
    It's back to school day!Many kids are heading back to school today. Is yours? We'd love to see your Back to School photos.
  • Detroit's historic bankruptcy trial begins

    Detroit's historic bankruptcy trial begins

    Tuesday, September 2 2014 10:53 AM EDT2014-09-02 14:53:37 GMT
    The trial to determine whether bankrupt Detroit's restructuring plan will be approved began earlier this morning.

    The trial to determine whether bankrupt Detroit's restructuring plan will be approved began earlier this morning. Follow live Tweets from the courtroom here. >>
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices