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By the year 2049, thanks to the "pension reforms", the city of Warwick will have saved roughly $114 million (a 38-year period). But the city will have spent $1.175 BILLION to keep the pension plans afloat.
To put things in perspective by the year 2027, the city will be spending $50.3 million in taxpayer dollars to fund the municipal pension plans. Absent the Avedisian pension reforms, the city would have to spend $52 million.
And to echo what FedUp1 stated--- FIRE II PENSION PLAN GETS AN AUTOMATIC 3% COLA INCREASE EVERY YEAR. How is this fair to the ACTIVE CITY WORKERS not getting the same?
Please explain the inappropriate content below.
