The Providence City Council voted 12-0 late Monday afternoon to approve a far-reaching overhaul of the city’s pension system, sending the ordinance to Mayor Angel Taveras for his signature.
The only change was an amendment that allows a review of the cost-of-living adjustment (COLA) freeze every five years until the pension system is 70% funded, a city official said. Three members of the council – Michael Correia, Nicholas Narducci and Davian Sanchez – were absent for Monday’s second vote.
The all-Democratic council voted unanimously to approve the changes last Thursday, but its rules required a second affirmative vote to send the ordinance to the mayor’s desk. Taveras is expected to sign it soon.
Update: Taveras signed the pension ordinance Monday evening at Beneficent Church on Weybosset Street, his office said. He was joined at a youth event there by Council President Michael Solomon, Council Majority Leader Seth Yurdin and Councilman David Salvatore, who oversaw the review that led to the changes.
Kathryn Sotnik contributed to this report.
(photo: Angel Taveras)
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