PROVIDENCE, R.I. (AP) — Providence Mayor Angel Taveras says the city won’t seek to alter its pension settlement with retirees and unions even after filing suit against its actuary over what he calls a $10.8 million error in calculating the projected savings from a pension system overhaul.
The city filed suit Tuesday against Buck Consultants alleging breach of contract and fiduciary duty, negligence and violation of the Rhode Island False Claims Act.
The suit says the city relied on Buck’s savings projections for a pension increase freeze and that Taveras used the flawed assumptions in negotiations with unions and retirees.
Taveras says he won’t seek future concessions to make up for the “inexcusable” mistake. The city is seeking $10.8 million in damages.
Buck said it hadn’t yet been served with the lawsuit and had no immediate comment.
