NEW: Only 12 Central Falls Police & Fire Retiree Accept Voluntary Concessions
Friday, July 29, 2011
Of the 106 Central Falls Police & Fire retirees and beneficiaries that sent in ballots regarding potential concessions in their benefits, only 12 agreed to to accept voluntary concession and the majority of that group would not have had their pension benefits reduced by the state's proposal.
"The Office of the Receiver has received 106 ballots from Central Falls Police & Fire retirees and beneficiaries," Receiver Robert Flanders said. "Of these, 12 retirees/beneficiaries voted to accept the voluntary concessions necessary to affect a viable and feasible turnaround plan for the City (9 of whom did not have their pension benefits reduced by the proposal and therefore would create no savings to the City). Of the remaining 129 retirees and beneficiaries who were sent ballots, 37 voted to reject the proposal, 57 requested additional time to decide whether or not to accept or reject the proposal, and 35 did not respond.
"In addition to the ballot results, the Office of the Receiver is reviewing the status of union negotiations in deciding upon the best possible course of action to put the City of Central Falls on solid financial footing. An announcement is expected Monday morning."
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