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City council needs to file legislation declaring a fiscal emergency in the city. This would give the city the legal president to make unilateral cuts to these benefits, including suspending pension Cost of Living Increases and imposing cost sharing on retiree healthcare. S 50% co-pay would result in $5 million annual savings.
If the city mirrored school retiree healthcare benefits almost $10 million could be saved each year. Over 5 years that would be $50 million that could be reallocated to educational and city programs and services that are needed.
The fact that the council is considering writing ordinances to control these costs is a major development that should be supported by Warwick taxpayers.
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