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You are correct Mr. Cote, Cushman and others have warned for years that not only this City, but the State is whistling past the graveyard, including the former Auditor General, Ernie Almonte, who testified before the House Finance Committee year after year, ad infinitum, that the rate of growth in unfunded liabilities in pension and healthcare funds was "unsustainable, financially irresponsible, and pushing cities, towns and the State towards insolvency and bankruptcy."...(Central Falls) the latest.

The larger question is, where is the Attorney General or US Attorney? Contracts negotiated in bad faith, agreements made that totally breech financial responsibility, have no chance to be honored, especially for young rank and file members, while totally ignoring accounting and actuarial sound principles is straight out gross financial malfeasance, fraud, collusion and racketeering...All of the parties, management, union, their financial advisors who turned a blind eye to this financial train wreck should be in jail for a very long time...A Bernie Madoff sentence would be appropriate for squandering hundreds of millions of dollars...OK, you can now go back to sleep or life in your alternative universe...YIKES!