Taveras, retirees meet for first time on pensions

Providence Mayor Angel Taveras met for the first time with public-safety retirees since vowing to cut their pension benefits to help close a $22.5 million shortfall this fiscal year

Attorney Joseph Penza, who represents the police and fire retirees, wouldn’t characterize Tuesday’s discussions between members of the retiree association’s board and the mayor. A spokesman for Taveras had no immediate comment on the meeting.

In his recent State of the City address, Taveras called annual cost-of-living increases of 5 and 6 percent received by about 600 public-safety retirees “unbearable and unsustainable.” He wants to freeze all retirees’ COLAs.

The city said that would save some $16 million.

Taveras is seeking voluntary concessions but has warned the cuts could be imposed in a bankruptcy proceeding.

Article source: http://www2.turnto10.com/news/2012/feb/22/taveras-retirees-meet-first-time-pensions-ar-941525/

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