By Barbara Polichetti
WARWICK -- If the city stays on track with its contributions to its one critically underfunded pension plan -- a closed plan for police and firefighters - the plan will be fully funded in about 23 years as planned.
That was the basic message of the actuary for the city's pension plan who spoke Monday before a state pension review board and later to the City Council.
According to Joseph Newton, an actuary with Gabriel Roeder & Smith Company, Warwick has made its required payments for the stressed pension plan ever since 1996 when the 40-year payment plan in place.
Newton also said some of the projected spikes in future annual contributions will be negated by gains made in investments and benefit savings.