From the Providence (R.I.) Journal: The proposed new contract for city firefighters has stalled in the city council’s finance committee over protests that the deal might further deplete the city pension system and open the door for other unions to seek costly benefits.

Council members say the agreement, negotiated earlier this year after a nine-year stalemate, would formalize a benefit that makes firefighter and police pensions more lucrative than most: the 3% compounding cost-of-living adjustment, or COLA.

City officials have consistently cited the compounded COLA as a leading cause for the poor state of the city pension system, one of the lowest funded of municipal pensions in the country, according to the council.

The fund has an accrued liability of $1.2 billion, but assets of about $265 million, leaving its liability more than 70% unfunded, according to the most recent data from the council.