Providence City Council sends pension cuts to mayor’s desk

April 30th, 2012 at 5:37 pm by under Nesi's Notes

The Providence City Council voted 12-0 late Monday afternoon to approve a far-reaching overhaul of the city’s pension system, sending the ordinance to Mayor Angel Taveras for his signature.

The only change was an amendment that allows a review of the cost-of-living adjustment (COLA) freeze every five years until the pension system is 70% funded, a city official said. Three members of the council – Michael Correia, Nicholas Narducci and Davian Sanchez – were absent for Monday’s second vote.

The all-Democratic council voted unanimously to approve the changes last Thursday, but its rules required a second affirmative vote to send the ordinance to the mayor’s desk. Taveras is expected to sign it soon.

Update: Taveras signed the pension ordinance Monday evening at Beneficent Church on Weybosset Street, his office said. He was joined at a youth event there by Council President Michael Solomon, Council Majority Leader Seth Yurdin and Councilman David Salvatore, who oversaw the review that led to the changes.

Kathryn Sotnik contributed to this report.

(photo: Angel Taveras)

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6 Responses to “Providence City Council sends pension cuts to mayor’s desk”

  1. Ed says:

    There are three chickens feces that could not go through with the second votes. This is the first time I will compliment the city council, they made a semi correct choice on a difficult issue. Too bad these dirtbags don’t think this way when spending the rest of the taxpayers money. Maybe the residences of Providence would be paying so much in taxes and there would a lot less abdandonded property.

  2. ProvLawyer says:

    Very difficult but necessary vote by the city council. all attention turns to the Courts to determine whether Providence will be allowed to save their city or will they have to sink the capital city into banktruptcy.

  3. Al Moncrief says:

    RETIREES, DON’T GET ANGRY . . . GET LITIGIOUS!

    FOR THE EDIFICATION OF THOSE WHO WOULD ABANDON CONTRACT LAW IN RHODE ISLAND, THE RECENT RULING:

    “The case law does not preclude but rather supports this Court’s holding that Plaintiffs, as ten-year veterans of the State, possess a contractual relationship with the State pertaining to retirement allowances and COLA benefits which are not subject to collective bargaining.”

    1. Ed says:

      Al go for it and lets see what happens to the pensions when Providence files chapter 9. You and your rejects will have nothing which is what you are worth.

  4. [...] Taveras administration is heralding the three big announcements of the last 24 hours – deep cuts in pension benefits and new payments from Lifespan and Brown University – as significant milestones on [...]

  5. Although Providence city council agreed unanimously on the newly proposed pension plans, this does not mean that the plans were perfect. Due to this fact, it was a good thing that the plans allowed the COLA clauses to be reviewed. This is an important aspect since there is always need for amendments as living conditions often change with time.