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Over the last decade I as well as others have been sounding alarm over the escalating costs of these benefits and have looked at the impact this cost is having on the city's ability to provide municipal and educational services. What has happened is every other line item in the budget not related to retired and active employee benefits have been reduced to the point where a couple years ago only THREE CENTS of every new tax dollar was allocated to non-personnel related expenses.

To put into context just how much a pension like this will cost, here are the facts:

A $100,000 a year pension with a 3% compounded Cost Of Living Increase will grow to $115,927 payout in 5 years. In 10 years it will grow to $134,392 pay out. In 25 years the pension will grow to $203,279.

All told in 25 years Warwick Taxpayers will pay $3,645,926 to that one individual. According to a freedom of information document provided from the city, the amount contributed to get this pension was approximately $150,000.

What impact is this going to have on the city pension plans when the amount of money needed in the plan to fund such payouts can never be met? It means the plans will continue to draw down its assets to a point where taxpayer cost will continue to escalate translating into non-stop property tax increases.

Should the city put a cap on pension payments and stop automatic COLA enhancement?

Keep in mind this is just a cost in the requirement equation as free lifetime healthcare for husband and wife is also included.

Can anyone tell me how this is sustainable and more importantly FAIR?

I would love to hear from some of the city workers who disrupted my Dec 15, 2014 presentation when my only point of making the presentation was to warn of the dire consequences unless real changes to reduced expenses are made.