NEW: Mayor Taveras Criticizes Pension Proposal

NEW: Mayor Taveras Criticizes Pension Proposal

Providence Mayor Angel Taveras is among the local leaders criticizing the municipal portion of Governor Chafee and General Treasurer Gina Raimondo’s pension reform proposal.

Under the plan, cash-strapped cities and towns would have to come up with a proposal to better-fund their independent local plans or they would be at risk of losing municipal aid.

“Upon initial review, the pension reform bill does not provide Providence any of the tools we need to reform the city’s ailing pension system,” Taveras said. We will be meeting with leaders at the State House to discuss next steps. We thank Governor Chafee and Speaker Fox for advocating strongly on behalf the Capital City and understanding that comprehensive pension reform must include municipally administered plans.”

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