Detroit still needs $350M from state lawmakers

DETROIT (AP) — Pressure was building Wednesday for Michigan lawmakers to commit $350 million to Detroit pensions, a day after the city reached tentative agreements with pension funds and a retiree group to reduce payouts.

The city has an $816 million pledge from foundations, philanthropists and Gov. Rick Snyder to shore up pension funds and prevent the sale of city-owned art as part of Detroit’s strategy for exiting the largest public bankruptcy in U.S. history.