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Retiree's can add. For the most part, if a buyout is worth less than the expected payout, they will refuse. Some people may take it for example if they dont expect to live as long (has COPD etc), but in those hypothetical cases, the city still pays more. I think expecting any reduction in contracted retiree benefits without a bankruptcy (which Warwick would NOT qualify for), is wasting energy and a pipe dream. The city agreed to XYZ over the years, the public did not object (they kept reelecting the same leaders), and now that same public has been obligated to pay those benefits and the taxes will go up by the maximum allowed under state law every year until such time as things are back in balance.

The family with a 4000 property tax bill may end up paying 6000 in a few years. For most, that $165/mo extra will be mixed into their mortgage and they wont feel it enough to change the whole mayor and council and demand "austerity". Even that much (50% tax increase in 10 years) probably wont change much.