Johnston eyes cuts in pensions

Johnston could be the latest community to freeze cost-of-living adjustment for retirees. 

According to reports, the city is studying pension and healthcare changes that could save the community thousands of dollars.

 Under one proposal, all COLAs would be suspended for retirees receiving more than $35,000 per year. 

There would be no cost-of-living adjustments until the town’s pension programs are 70 percent funded. 

Article source: http://www2.turnto10.com/news/2012/may/16/johnston-eyes-cuts-pensions-ar-1038374/

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