NEW: EngageRI Supports Providence Pension Reform
Wednesday, May 02, 2012
The well-funded pro-pension reform group created last year is praising the Providence City Council and Mayor Angel Taveras for taking steps to address the city's pensions problems.
In a statement released today, EngageRI said the new ordinances passed and signed into law Monday will benefit citizens throughout the city.
"EngageRI strongly supports the efforts of Council President Michael Solomon, the Providence City Council and Mayor Taveras to implement pension reform in our capital city," the statement said. "We believe that the new ordinance constitutes a comprehensive approach to reform because it preserves Providence’s pension system while ensuring that the burden of reform falls equally on employees, retirees and Providence taxpayers. As the city’s report notes, 'These measures are necessary to permit the city to protect the health, safety and welfare of its citizens, to avoid bankruptcy and to continue funding the underlying pensions of retirees.'
“Council President Solomon and the Council members who sat on the Subcommittee on Pension Sustainability deserve praise for their thoughtful approach that included thorough research, hearings, an experience study and appropriate recommendations. EngageRI is pleased to support Providence’s efforts and we are hopeful that other cities and towns will take the same studious approach.”
