Detroit’s Police and Fire Retirement System has sued the city for a $45 million payment the pension system says is overdue.
The lawsuit comes after the city missed a June 30 payment deadline, according to local reports. The suit was filed in the Wayne County Circuit Court.
Crain’s Detroit Business reported that the city’s General Retirement System has voted to follow the police and fire system but has yet to file a lawsuit.
Failure to make pension payments can trigger a financial review and an emergency financial takeover, Crain’s said.