By “meep,” includes “… In general, “bonuses” in pension payments like discretionary COLAs and 13th checks are not included, as they’re not guaranteed elements of the pensions. But the Detroit pensions kept paying those 13th checks each year, even when the pension fund did not do well. So, the pensioners came to regard them as “guaranteed”. Turned out they weren’t – these were part of what was whacked in the bankruptcy deal. …”