KELLY MCEVERS, HOST: NPR's business news starts with Detroit cutting a deal.</s>KELLY MCEVERS, HOST: After days of intense negotiations, the city has reached tentative agreements with retired police officers and firefighters to preserve their pensions. Pensions of other city retirees would take a hit of 4.5 percent. They were facing a 26 percent cut.</s>KELLY MCEVERS, HOST: Thousands of active and retired workers will soon vote on the plan and it'll be reviewed by a federal judge. The deal is part of a major effort by the city to emerge from bankruptcy by this fall. Last year, citing a debt of $18 billion, Detroit filed for the largest public bankruptcy in U.S. history.
The city has reached a tentative agreement with retired police officers and firefighters to preserve their pensions. Pensions of other city retirees would take a 4.5 percent hit.