Providence City Council sets Monday vote on pension overhaulApril 28th, 2012 at 3:47 pm by Ted Nesi under Nesi's Notes, On the Main Site
The Providence City Council is wasting no time in pushing through its plan to fix the pension system.
The council will hold a special meeting Monday at 5 p.m. at City Hall to take a second vote on the far-reaching overhaul, according to a notice filed with the secretary of state’s office. The proposal would freeze retirees’ pensions for about 24 years and shave at least $236 million off the city’s unfunded pension liability.
The council’s 15 Democrats already voted unanimously on Thursday to enact the pension changes, but the chamber’s rules require a second vote on all ordinances. If it passes again, the measure will go to the desk of Mayor Angel Taveras, who has said he will sign it.
Officials emphasized Thursday that negotiations with retirees to craft an alternative compromise deal on pension cuts can continue even if the ordinance is enacted, but firefighters union president Paul Doughty dismissed that idea, warning that approving the changes unilaterally would poison the city’s relations with his members for “a generation.”
Monday’s meeting agenda says the council will also vote on a resolution authorizing the city “to take all necessary actions to challenge consent decree on cost-of-living [adjustment] (COLA) allowances” and on changes to zoning regulations for downtown and the former Interstate 195 land.
• Related: Council votes 15-0 to OK pension cuts; Local 1033 backs move (April 26)