Providence – Superior Court Judge Sarah Taft-Carter has issued a ruling that Providence’s pension settlement is “fair, reasonable and adequate,” according to a statement released today by Providence Mayor Angel Taveras.
The settlement is expected to save the city $18.5 million in the 2013 fiscal year and reduce unfunded liability by at least $170 million through a 10-year suspension of annual cost-of-living (COLA) pension, along with other measures.
For more info, refer to http://pbn.com/Judge-rules-Providence-pension-settlement-fair,86986 article.