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Pension Reform

Elorza announces working group to consider long-term Providence pension solutions

PROVIDENCE - After his pitch to borrow more than $700 million to shore up the city pension fund stalled in the General Assembly, Mayor...

Elorza seeks to head off concerns on pension bond proposal in...

PROVIDENCE – Whether selling city bonds to investors is a creative solution to the seemingly intractable Providence pension problem or an overly risky venture...

Providence City Council approves police union contract with wage hikes, increased...

PROVIDENCE – The beleaguered Providence pension fund will get a $31 million boost under the new contract between the city and the Fraternal Order...
MATTER OF OPINION: Former R.I. Supreme Court Justice R­obert G. Flanders Jr. speculates that the recent high court decision on a pension dispute between the city of Providence and a group of municipal retirees might make bankruptcy more palatable for municipalities. / PBN PHOTO/ MICHAEL SALERNO

Court ruling on Providence pensions will have ripple effects

Rhode Island is no stranger to pension problems. Even after a major state-level overhaul of the Employees’ Retirement System of Rhode Island led by then-R.I....
PROVIDENCE MAYOR Jorge O. Elorza is warning that a new R.I. Supreme Court ruling will create "ballooning pension payments" for the city. PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS

Providence could be hit with ‘ballooning pension payments’ after court ruling

PROVIDENCE – Amid the financial hardships posed by COVID-19, the city has been hit with a new expense: up to seven years of cost-of-living...

Lining up for next windfall

In November 1998, Rhode Island was part of a historic settlement with the tobacco industry to pay for the health care costs of smoking...
A FEDERAL JUDGE issued preliminary approval to a settlement between the St. Joseph Health Services of Rhode Island Retirement Plan and CharterCARE Community Board, St. Joseph Health Services of Rhode Island and Roger Williams Hospital. Attorney Stephen Del Sesto is the court-appointed receiver for the St. Joseph pension plan. / PBN FILE PHOTO/MICHAEL SALERNO

St. Joseph pension plan $12M settlement with some defendants get preliminary...

PROVIDENCE – A settlement between Stephen Del Sesto, receiver and administrator of the St. Joseph Health Services of Rhode Island Retirement plan, and CharterCARE...
THE R.I. SUPREME COURT affirmed a decision that upheld Cranston Mayor Allan W. Fung's pension reforms for public safety workers. The city had settled with most members of the pension plan, but a group of pension members opted out and continued litigation against the city. / PBN FILE PHOTO/MICHAEL SALERNO

Was the R.I. Supreme Court right to side with Cranston in...

Nearly three years after R.I. Superior Court ruled in favor of Cranston in its bid to sharply curtailed cost-of-living adjustments for police and firefighter...
THE R.I. SUPREME COURT affirmed a decision that upheld Cranston Mayor Allan W. Fung's pension reforms for public safety workers. The city had settled with most members of the pension plan, but a group of pension members opted out and continued litigation against the city. / PBN FILE PHOTO/MICHAEL SALERNO

R.I. Supreme Court sides with Cranston over public safety retirees in...

PROVIDENCE – The R.I. Supreme Court ruled in favor of Cranston in a long-standing legal battle over frozen pension benefits filed by a group...

Legislation shows a lack of courage in General Assembly

As they say, timing is everything. And in this case, it’s just a little scary. On April 29 General Treasurer Seth Magaziner issued a report...

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