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More than one-third of Taft-Hartley pension plan leaders nationwide believe the current pension system is unsustainable and will succumb to various pressures, reported Pyramis Global Advisors, a Fidelity Investments company. more
Moody’s Investors Service announced that it will not downgrade Rhode Island’s Aa2 general obligation debt rating in light of the General Assembly’s decision not to default on its 38 Studios LLC bonds. more
The pension fund for the state of Rhode Island earned 11.1 percent during the 2012 – 2013 fiscal year, a 9.7 percentage point improvement over the 1.4 percent rise during the 2011 – 2012 fiscal year, R.I. General Treasurer Gina M. Raimondo announced, and WPRI.com reported, Wednesday. more
A report released Tuesday by the American Legislative Exchange Council highlights Rhode Island and three other states as models of effective pension reform. more
A Rhode Island House committee will open hearings Wednesday afternoon into the state’s $75 million loan guarantee to 38 Studios, WPRO reported. more
A superior court judge Wednesday allowed the bulk of Rhode Island’s lawsuit against the architects of the 38 Studios LLC loan deal to proceed, dismissing only a few portions of the complaint. more
A Dec. 10 auction of 38 Studios’ intellectual property assets grossed $320,000, but no “acceptable offers” were made for the 38 Studios video game under development when the company declared bankruptcy, codenamed “Copernicus,” according to a statement from 38 Studios receiver Richard J. Land. more
Citing “strong response from worldwide gaming developers and investors,” Heritage Global Partners announced Wednesday that the auction of 38 Studios’ intellectual property assets originally scheduled for Nov. 13-14 has been postponed until Dec. 11. more
(Updated, Feb. 14, 2:34 p.m.) The State Retirement Board on Friday voted to approve a proposed settlement of the state pension reform lawsuits, according to the R.I. Department of Administration. more
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