Many were surprised when Republican Michigan Attorney General Bill Schuette jumped into the Detroit bankruptcy debate on behalf of city retirees, who could lose pension benefits during the city's pending court proceedings.
"Retirees may face a potential financial crisis not of their own making, possibly a result of pension fund mismanagement," Schuette said in his late July announcement, though he also cited a legal argument that Michigan's constitution prevents public pension obligations from being "diminished or impaired."
But it might be helpful to note that Schuette is a public employee, too — albeit an elected one — and the fate of retirees in the Detroit bankruptcy filing could have repercussions for any retiree drawing a public pension.