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Stevie D I really have to question your understanding of the entire pension process when you write about getting a 19% return in one quarter. Over the last ten years the plans have come no where near the 8% return they are acturially based on. meaning the unfunded liabilities keep getting larger in all plans. Also in a few years the taxpayer contiribution to many of the plans will exceed 30%. Employee contributions will also get bigger. Why? Because the plans are not i"doing quite well".

Warwick's pension plans will force the city into bankrupcy if something is not done. Even Mayor Avedisian stated that it would happen in tens years without reform. I predict it will be alot sooner.

Since you appear to know so much about the issue in the city, why don't you enlighten me as to the unfunded liability associated with OPEB (Other Post Employment Benefits - lifetime healthcare). Specifically tell me, how much money should the city be saving each year according to the experts (acturially reports)? How much does the city have in the bank currently? What is the unfunded liability? Where is the city going to get the money to fund these programs, along with raises for current employees and pay for all the other expenses related to the buget. The answer is they are not. And what ultimately will happen is that retirees and current employees will suffer.

Bottom line is that you need to wake up. All is not well in warwick. As the General Tresurey likes to say "do the math, the numbers don't lie".

From: Mayors find proposal for municipal pensions, 'all stick, no carrot'

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