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Dear Mayor Avedisian,

How can you lie like that?

Projecting the pensions at a rate of return that we have NEVER had is an outright lie. At 6.5% Warwick loses about $45,000,000. At 6.1% (which is what we have averaged over the last 10 years) Warwick loses $100,000,000.

Our liabilities are 5 times greater than our assets.

Stop misleading the taxpayers! Read the comments of all these people. They are taxpayers and they VOTE.

Thank you JohnStark, Thecaptain, Reality,WarwickWatch, and daveberry109.

You all told the Warwick taxpayers the truth. I think we can all agree, we need pension reform. My administration will take on the task of making pensions better for everyone, WITHOUT TAKING ANYTHING AWAY FROM EXISTING PLANS! No one will work for 30 years at a reduced salary and then get their "promised pension" reduced as well. It won't happen. I won't let it.

Read about my plan at www.correntemayorwarwick especially the part about voluntary pension buyouts.

Enjoy the Spring.

Richard Corrente

Democrat for Mayor

From: Forecast for city pensions: ‘Is it bright, or cloudy?’

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