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Scott Avedisian's actuarial firm, Gabriell, Roeder, Smith & Co. falsely reported that our city pension was "not losing money" based on a rate of return of 7.5%. We have never received an interest rate that high! The highest rate in the last 10 years was 6.5% and the average has been 6.1%. Who are they trying to convince?

Fact: At 7.5% Warwick pension funds are at a break-even.

Fact: At 6.5% Warwick loses $65,000,000.

Fact:At 6.1% Warwick loses over $100,000,000.

This level of misinformation has got to stop. The Mayor has to be stopped and I will do just that. Warwick Taxpayers deserve to know the truth, good or bad. I will conduct a full and transparent audit from an outside independent firm with all results published. The Mayor wants us to believe we are NOT losing a dime. The facts show that we are actually losing millions. That's why taxes keep going up on every house but the Mayors (200 Atlantic). His taxes went down. I have a plan to cut taxes and cut spending. Please visit "correntemayorwarwick.com."

Richard Corrente

Democrat for Mayor