PROVIDENCE, R.I. (AP) — Providence, R.I.’s city council is expected to vote on a plan that would freeze automatic cost-of-living adjustments for retired workers.
A vote is set for Thursday night on measures Mayor Angel Taveras has called critical to returning the financially struggling capital to fiscal health. His budget plan for the coming fiscal year hinges on nearly $20 million in savings from the so-called Providence Pension Protection Plan. In his budget address Monday, he urged the council to pass it.
In addition to a COLA suspension, the plan caps pension benefits at around $78,000.
A council subcommittee unanimously passed the measures on Tuesday.
City Council President Michael Solomon said this week that passing the plan could be a “heavy lift” but he thinks it will go through.