Taveras calls for retirees to share in sacrifices needed to address structural budget deficit that threatens future of Rhode Island’s capital city
On Saturday, March 3, 2012, Providence Mayor Angel Taveras and Chief of Staff/Director of Administration Michael D’Amico will provide Providence retirees collecting a city pension or health care benefits with a presentation that details the city’s fiscal emergency.
Providence faces a $22.5 million budget deficit with four months remaining in the fiscal year, and Mayor Taveras has identified such structural fiscal imbalances as the compounded annual raises (COLAs) that retirees receive as drivers of the ongoing fiscal emergency that has brought Rhode Island’s capital city to the brink.
The Retiree Town Hall Meeting will take place from 10-11:30AM on Saturday, March 3 at Rhodes on the Pawtuxet in Cranston, RI. The Taveras administration has invited every one of the city’s retirees to attend – approximately 4,300 retired police, firefighters, teachers and municipal employees.
Mayor Taveras will provide an overview of Providence’s fiscal emergency and will propose concrete actions that Providence’s retirees can take to help restore fiscal stability in the capital city. Retirees and beneficiaries will have the opportunity to ask questions for one hour following the presentation.
The meeting will be streamed live on the Internet for those who live out of state and cannot attend, atwww.providenceri.com. Materials from the forum, including video and PowerPoint presentation, will also be posted online.