| | Advanced Search

 

TONIGHT: Fund for Community Progress Honors GoLocalProv + ACLU—Recognizing outstanding contributions to the RI community

Deadline for newportFILM’s Ripple Effect Video Contest is Friday—Drawing attention to RI's coastline + waterways

Patriots’ 2014 Schedule Released—Patriots' 2014 Schedule Released

John Perilli: Battle Heats Up to Succeed Fox in House District 4—Keep an eye on this one...

Newport Goes Daffy with Weeklong Daffodil Celebration—Over 250,000 blooming daffodils on display

B’s Dominate Wings, Take Game 3—shut out Detroit 3-0 to take 2-1 series…

Organize + Energize: 4 Ways Getting Organized Will Save You Money—Stop wasting time and money

Dear John: Single Dad - How Do I Handle Daughter’s Adolescence?—How to support your daughter through puberty

State Report: Marijuana Tax + Bill Targets Prostitutes and Pimps—Plus increased sentences for gang crimes

John Rooke - Thinking Out Loud—JR's column on the sports stories and personalities…

 
 

NEW: Providence Police Union to Vote on Pension Settlement Thursday

Tuesday, December 11, 2012

 

The Providence Police union will vote on a proposed pension reform settlement that will freeze cost-of-living-adjustments and require retirees to enroll in Medicare at the age of 65 on Thursday, according to union attorney Joseph Rodio.

The settlement, which came after Superior Court Judge Sarah Taft-Carter ordered the city and the city’s three unions (Police, Fire, Local 1033) as well as the retirees into mediation, is expected to generate approximately $18.5 million of savings this fiscal year.

The retirees and other unions have already voted to approve the settlement.

Officials have said they expect that the pension reforms agreed to during mediation will reduce the City’s unfunded pension liability by as much as $170 million. The changes to Medicare will save approximately $40 million over the next 10 years.

The Police vote will come less than a week after the state asked Taft-Carter to toss out a suit filed by the state’s top labor unions that argues that the pension reform overhaul signed into law last year by Governor Lincoln Chafee was unconstitutional. She has yet to rule on the request.

The statewide unions have pointed to Providence’s pension changes to suggest that the state should return to the negotiating table to reach a settlement, but several leaders, including General Treasurer Gina Raimondo and House Speaker Gordon Fox, want to leave it up to Taft-Carter.
 

Dan McGowan can be reached at dmcgowan@golocalprov.com. Follow him on Twitter: @danmcgowan.

 

Enjoy this post? Share it with others.

Comments:

pearl fanch

Maybe they'll vote what's best for all tax paying citizens, and vote to switch 100% of their pensions to 401K's.

HAHAHAHAHA, sorry couldn't help myself.




Commenting is not available in this channel entry.