Taveras, Providence retirees and unions strike landmark deal

By Ted Nesi and Tim White

PROVIDENCE, R.I. (WPRI) – Providence Mayor Angel Taveras has struck a landmark deal with city workers and retirees to scale back future pensions, freeze cost-of-living adjustments and restructure health benefits that could save the capital from bankruptcy, WPRI.com has learned.

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Update: After the jump you can see two extensive charts with the nuts-and-bolts on the settlement.

Mayor Taveras’s office distributed this chart explaining what has to happen next (click to enlarge):

And here’s a second chart from the mayor’s office detailing what’s in the settlement (click to enlarge)

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