Council votes 15-0 to OK pension cuts; Local 1033 backs move

April 26th, 2012 at 8:30 pm by under Nesi's Notes

By Ted Nesi

PROVIDENCE, R.I. (WPRI) – The Providence City Council on Thursday night unanimously and quickly approved a far-reaching overhaul of the cash-strapped capital’s pension system that would freeze the size of retirees’ pensions for about 24 years. Union leaders split over the measure.

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6 Responses to “Council votes 15-0 to OK pension cuts; Local 1033 backs move”

  1. Ed says:

    Reality is starting to set in with the city council. Even these rejects know they gravy train is coming to an end. Lets see how many of these dirtbags when up for election will get support of the public sector unions. I bet the FOP and the firemens union will still support them because the union leadership is still getting the sweetheart deals.

  2. oreo says:

    Going to court, council loses easy. All for show, nice try. Now’s your chance Ed, show us how intelligent you are.

  3. GaryM says:

    Looking at this from a business standpoint, I would ask “if they lose in court 5 years from now, they will have to declare bankruptcy”.

    Business people are smart enough to understand that they don’t want to grow jobs in a basket case city.

    Everyone talked about how bad bankruptcy would be. I contend that uncertainty for the next 5 years will be even worse.

    1. oreo says:

      Good point Gary. Don’t know why the rules for any employee that isn’t vested haven’t changed already. While this makes it’s way through the court system why not do everything they legally can now, just in case?

      1. Ed says:

        Oreo, you and your buddies can have the money you contributed vested, future money will not be vested since their will be no new money, the tax levels are too high and your salaries are going to have to be reduced.

  4. oreo says:

    I think not Ed as I am not a providence employee. But, thank you for your post, although I disagree with it as it’s an assumsion, I did notice you did not resort to name calling. Thank you You do not understand how this works, state workers are now getting raises as will providence employees. See Dems run the state, we tax payers cannot win. Bankruptcy may be the only recourse.