NEW: RI Supreme Court Upholds Cranston's 2013 Pension Reforms
GoLocalProv News Team
NEW: RI Supreme Court Upholds Cranston's 2013 Pension Reforms
The opinion reaffirms the previous trial decision by Superior Court Judge Sarah Taft-Carter.
"This is a historic day for Cranston, as by the Supreme Court upholding these changes, we are ensuring the long-term solvency of our locally administered police and fire pension plan. I cannot thank enough the union members and retirees who came to the table, saw the math in front of us, and worked with us to right the ship so that the funds will be there for them in the future," said Cranston Mayor Allan Fung.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST"As Mayor, I have ensured that we fully funded our ARC and 100% of our OPEB obligations so that we are doing right by our workers," added Fung.
The opinion written by Chief Judge Suttell notes that the “narrowly tailored” pension reform actions served a “significant and legitimate and public purpose” to address the City’s dire fiscal emergency. It was also noted that the City was “motivated by a critical need to improve the health of the City’s pension system.”
“Today’s ruling ensures that the Cranston taxpayers continue to receive the over six million dollars in annual savings from these reforms," said Fung.
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