Wed January 2, 2013
Firefighters vote on revised deal
(PROVIDENCE, RI) Providence firefighters vote Wednesday on a revised deal with the city. Paul Doughty, president of the city’s firefighters union, says members are voting on a couple of changes, but the most important one centers on how well their pension is funded. He says right now the pension is about 30 percent funded. Firefighters will vote on a provision requiring the city to pay at least 95 percent of its yearly contribution until the pension is 80 percent funded.
“We understand that some years the city might need some flexibility, but we are also cognizant of this fact of the funding amount is the most significant reason why the fund got in such bad shape. So, it was a very high priority of ours but in the spirit of compromise it gets us to the same point.”
Doughty says in return, cost of living adjustments will be suspended for ten years. He expects the vote on the revised deal to split along the same margin as it did during the first vote … which was 69 to 31 percent.
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