Orr Halts Pension Freeze He Ordered Last Month

(Detroit, MI) -- Detroit Emergency Manager Kevyn Orr has halted a pension freeze he put into place last month for city workers in Detroit's General Retirement System. Yesterday, Orr said he would delay the action while officials with both city pension plans continue negotiations in federal bankruptcy court over a reported three-point-five-billion-dollars in pension underfunding. On December 31st, Orr closed the GRS and the system's annuity savings fund and put employees into a 401-K style plan.