LETTERS

Proposed pension reforms

Posted

To the Editor:

Warwick absolutely needs pension reform! In my mayoral campaign of 2016 I outlined “Part 1” which included voluntary buyouts that saved Texas almost a billion dollars. Warwick would be wise to copy that win-win idea. What follows is “Part 2.”

New Pension Protection

In order to keep the Warwick Pension fund solvent, I propose that legislation be enacted that does not allow for any new Warwick employee to receive a pension that is greater than 80 percent of his/her highest annual salary. Cost of living adjustments (COLA’s) should be based on the new pay grade of each position. In other words, if the average clerk in the library received a four percent raise or a four percent pay cut, the retiree would receive the same percentage of COLA. COLA’s were introduced by Social Security decades ago as a cost-of-living-adjustment, not a cost-of-living-increase.

 Also, any new employee should receive taxpayer-paid health benefits for that employee alone, with the option to have family coverage at the employees total cost.

Starting salaries for new employees should also be adjusted higher or lower to meet the current employment market.

Finally, anyone who receives a retirement pension due to an injury, should be medically re-evaluated every year to determine if the injury continues to prevent the employee from working.

If we take these, and other, preventative steps, Warwick can protect our employees and retirees from decisions like the State of Rhode Island made about state employees. Their pensions were unfairly and irreversibly slashed. When the fund is out of money, there isn’t any other solution. 

Warwick needs pension reform…while there is still time.

Richard Corrente

Warwick

Comments

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bendover

NUTS!

Thursday, September 7
Justanidiot

eyes hope dat da reel tickspayers mayer comments here on this fraudulaent letter

Thursday, September 7
JohnStark

Richard,

If your plan included a proposal to phase out public sector pensions, which is the ONLY sane approach, I'd be on-board. You're doing little more than tinkering with a plan that is simply not sustainable..

Thursday, September 7
PaulHuff

If you based COLA's off of raises nobody would leave that year.

And how do you do your -4% COLA? Every year the pension is cut 4%? I guess that's one way to get rid of pensions.

Evaluating disabilities is already supposed to be done but never is.

Friday, September 8
Thecaptain

More moronic statements by the tax cheat, tax delinquent, child support delinquent, small claims defendant, car tax cheater, and forcibly evicted squatter. His thoughts do not identify the root of the problem, but that is typical of Mayor Dumbness. He has no idea what he is talking about ever. That's what we should do, take advice from a mortgage broker that lost his house due to entering into a predatory loan. Smart guy. NOT!!!

The unions need to be disassembled. Current unfunded liabilities will not be impacted 1 dime with this idiots ideas. If you notice, he doesnt give any particular details. For example, when the last fire chief retired with 85% pension then went and applied for another chief job in North Kingston. Lifetime healthcare, 140 days unused sick time, 90 days unused vacation time, all a joke and a scheme.

There is no end to the mayor engaging in union negotiations that screw the taxpayer.

Friday, September 8
davebarry109

Mr. Corrente....Are you saying 80% of current salary and never exceed that percent with colas? You're not clear. I agree that employees should not get to a point where they are making far more in retirement than when they worked but you need to start with new hires.

Friday, September 8
Thecaptain

As a factual example, (one thing that Corrente can never offer), Chief Armstrong contributed into his pension during his entire career $152,000. That was returned to him in full in less than the first 18 months of retirement. That also dosen't include the $77,000 in unused sick pay that he took as he walked out the door.

Now here is the scum bag maneuver that Armstrong pulled. He was able to negotiate his own contract directly with the mayor. In that contract he specified 24 vacation days per year. Not monthly accruement, yearly. So what did he do, he gave his notice in the first week of the January, so in the second week when he retired we had to pay him an additional 24 days pay on top of all of the "unused sick days". That is just one example of how the fire fighters game the system. By the way, unlike Corrente, I have the official documents from the city and would be more than happy to share them with anyone.

Friday, September 8
richardcorrente

Dear DaveBarry109,

You said it better than I did.

1. Retirees should not "get to the point where they are making far more in retirement than they did when they worked" and

2. you need "to start with the new hires" (to protect the retirees and the existing employees)

Happy Autumn DaveBarry109.

Happy Autumn everyone.

Rick Corrente

The Taxpayers Mayor

Friday, September 8
ThatGuyInRI

The "Taxpayers Mayor" is a lot like the Herp, he just never goes away.

Thursday, September 14
richardcorrente

Dear Bendover and ThatGuyInRI,

If you have a better plan, I would love to hear it. I'm sure the other readers would too.

If not...

Thursday, September 14
Thecaptain

Mayor Dumbness,

You have no plan, you never did, and anyone who would believe that you have a plan is a fool. The only thing that you do have is a trail of unpaid bills and litigation where ever you go. That is indisputable fact. Still waiting for you to come clean on where you car "BANKRS" was registered during the 3 year period when you were squatting at 177 Grand View Dr while you were under tax sale and forcible eviction. Care to come clean? Probably not.

Thursday, September 14