A lawyer representing city retirees in Providence is expected to tell a state judge that they have approved a deal freezing automatic pension hikes and restructuring health benefits — a victory for Mayor Angel Taveras that is expected to keep the state capital out of municipal bankruptcy. Attorney Joseph Penza, who represents about 1,300 municipal retirees, said that he plans to present the results of the retirees' vote to Superior Court Judge Sarah Taft-Carter today. About 80 percent of the retirees voted in favor of the tentative agreement with Taveras, announced last month, Penza said. That agreement eliminates pension cost-of-living increases for 10 years, caps pension benefits and shifts retirees age 65 and older to Medicare. The pension overhaul is expected to save an estimated $18.5 million and the health benefit changes about $4.2 million in the coming fiscal year, according to the city. Taveras has called the ratification "an important milestone" in his efforts to avoid bankruptcy.
