Updated March 28 at 6:28pm
Pension Reform
25 results total, viewing 11 - 20
Rhode Island’s $7.7 billion pension fund terminated investments in seven hedge funds, including Brevan Howard Asset Management and Och-Ziff Capital Management Group LLC, after voting last month to cut its allocation in half over two years. more
A change in accounting standards that will require governments to start disclosing the amount of unfunded pension and retiree benefits on yearly balance sheets could put new pressure on public officials to step up payments on these plans, according to speakers at a conference organized by Donoghue Barrett & Singal P.C. and the Rhode Island League of Cities and Towns. more
Nationwide, a new report says that state public employee pension plans are underfunded by nearly $5.6 trillion. At $18.6 billion, Rhode Island’s unfunded liability is one of the smallest among the 50 states, thanks to its size and fewer employed workers. more
For those thinking that the finalized reforms to the state-worker pension system took care of all its issues, think again. The outstanding problem is the fund's assumed rate of return. At the moment it is 7.5 percent. And with the reforms, … more
Accountants, actuaries, politicians and union leaders are scheduled to meet on Friday to discuss the looming Rhode Island crisis related to public pensions and other post-employment benefits at a seminar dubbed “The Gathering Storm.” more
The R.I. State Retirement Commission last month decided to cut its roughly $1 billion investment into hedge funds in half, saying the asset has underperformed and cost the state too much in fees over the last five years. The precarious … more
Editor's note: This is the fourth and final installment in a series exploring how well Rhode Island cities and towns are funding municipal pension and benefit plans and the public-policy ramifications. Hours after a Rhode Island Superior … more
If the state's public officials want to make a real difference in Rhode Island's future, they should spend less time on getting to the bottom of the 38 Studios mess and more, a lot more, on the looming public-finance meltdown over unfunded liabilities for local pensions and other post-employment benefits (also known as OPEBs). more
Following a Friday R.I. Superior Court ruling in favor of Cranston Mayor Allan W. Fung’s decision to freeze yearly benefit increases, the plaintiffs, a group of retired Cranston police and firefighters, announced plans to appeal the decision to the R.I. Supreme Court. more
Editor's note: This is the third of a four-part series exploring how well Rhode Island cities and towns are funding municipal pension and benefit plans and the public-policy ramifications. Leading up to the financial crisis of 2008, cities … more
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