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An article written by WPRI reporter Ted Nesi on January 20, 2014 for your reading please.

Moody Article

Attached is the most current information regarding the status of the “Proposed Settlement” with the city regarding our COLA:

 Court Decision Letter 15 Nov 2013

In the face of emotional opposition from the town’s police and firefighters, Mayor Joseph Polisena is asking the Town Council to back his plan to rescue the troubled pension system by curtailing certain pension benefits long established in union contracts.

According to the proposed ordinance by the mayor, it would freeze cost-of-living escalators (COLAs) over a period of 20 years for all retirees.  At that point, any retirees receiving pensions greater than 150 percent of the Rhode Island mean income, which is about $29,277 in 2011, would remain ineligible for any cost-of-living increases.

To read the entire Providence Journal article, go to http://www.providencejournal.com/breaking-news/content/20130614-johnston-mayor-seeks-police-fire-pension-changes-through-council-approved-ordinance.ece