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

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

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(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

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