PROVIDENCE – Superior Court Judge Sarah Taft-Carter has entered a final judgment on the public employee pension settlement.
The judgment, issued Wednesday, states that “this judgment is final and shall be binding on all parties and all class members in the above-referenced class action case for settlement purposes … all class members are forever and completely barred from ever asserting any claims or causes of action that were alleged or brought or that could have been alleged or brought with respect to the various challenges to the Rhode Island pension statutes.”
“Nothing in this judgement shall be construed as a limitation on the General Assembly to enact, amend or repeal laws now or in the future, including, without limitation laws with respect to the Rhode Island pension statutes,” it states.
Taft-Carter already approved the settlement last month, but the judgment was entered to reflect the General Assembly approval that happened in late June.
Terms of the settlement took effect July 1.
The 2011 pension overhaul revamped several parts of the state’s pension system, including retirement benefits and cost of living adjustments.
For funds not already 80 percent funded, the settlement shortened the time intervals between suspended COLA payments from once every five years to once every four years.
In addition, retirees will receive two one-time stipend payments of $500, one this year and one next year.
Now that the final judgment has been entered, the 20-day period to file notices of appeal has begun. WPRI-TV CBS 12 reported that one retiree has already filed a notice of appeal.
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