Up to now, the city has paid 100% of its employee contributions to their retirement plan.
Fialho said the move will result in a $1.1 million savings in the city's budget through March 31, 2013.
At the same time, the city and the PCEA agreed to implement a two-tier retirement program that will follow the pre-2001 retirement program in place for city employees. That move will reduce the city's unfunded liabilities by about $3.5 million for this employee group, Fialho said.
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