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Warwick has a $406 million OPEB liability and unsustainable healthcare costs. If you are in denial about the dire situation Warwick is in, that's on you man.

WPRI: Providence, Warwick have no money saved for $1.4B in health care liabilities -> https://www.wpri.com/news/providence-warwick-have-no-money-saved-for-1-4b-in-health-care-liabilities/

Providence and Warwick cover annual health care bills on a pay-as-you-go basis. Accounting groups say that’s a risky strategy, considering the average cost of health care per person totaled $11,172 in 2018 compared to $355 in 1970, according to the Peterson-Kaiser Health System Tracker.

“Advance funding is a ‘best practice’ recommended by the Government Finance Officers Association and others,” Hoyle wrote, adding the first step to move in that direction is to set up an OPEB trust fund.

“The mayor believes that this contract provision establishes the mechanism for OPEB trusts and other reforms for future negotiations with all city unions,” Solomon spokesperson Susan Baker wrote in an email. Per the spokesperson, Joe is laying the ground work to ask for more concessions. Grab your popcorn.

From: Divided council approves pact

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