Pension Reform

Investigative/Enterprise Reporting

PBN takes top honors in New England for general excellence and...

BOSTON – Providence Business News was awarded first place for general excellence as well as best overall website for a specialty publication on Saturday...
R.I. AUDITOR GENERAL Dennis E. Hoyle released a report Friday that found the state worker pension plans had strong investment returns in fiscal 2017 but have fallen further behind their contractual payout obligations in the last three years. /PBN FILE PHOTO/MICHAEL SALERNO

State worker pension system had strong returns in ’17 but liability...

PROVIDENCE – Despite growing $686 million in fiscal 2017, the financial health of the state’s retirement system by some measures has declined in recent...
A FOUR-PART SERIES by PBN staff writers Mary MacDonald and Eli Sherman took one of three first-place awards that Providence Business News scored at the annual Alliance of Area Business Publishers editorial excellence competition.

PBN takes 3 first-place awards in annual business pub journalism competition

DALLAS – Providence Business News earned top honors in three categories in the 2017 Alliance of Area Business Publishers editorial excellence awards program, held...

City budget still doesn’t face reality

The highlights for the fiscal 2018 budget for Providence, at least according to City Council, include no tax increase and the inclusion of a...
STATE OFFICIALS are lowering the pension funds assumed rate of return to 7 percent from 7.5 percent. / PBN FILE GRAPHIC LISA LAGRECA

Rhode Island to lower pension fund return to 7 percent

PROVIDENCE – The R.I. Retirement Board on Monday approved a proposal to lower market-return expectation for the state’s $7.9 billion pension fund.The board voted...
LEGISLATION INTRODUCED this month in the General Assembly proposes creating a statewide water authority to centralize oversight and operations of the 490 public water-supply systems in Rhode Island. / COURTESY ­PROVIDENCE WATER SUPPLY BOARD

This plan tying water revenue to pension liabilities is all wet

The post-retirement benefit Armageddon that awaits Providence has inspired a state legislator to offer up a bill that would help the city deal with...
STATE OFFICIALS are lowering the pension funds assumed rate of return to 7 percent from 7.5 percent. / PBN FILE GRAPHIC LISA LAGRECA

Are we dealing with reality on pensions?

In June 2011, then-General Treasurer Gina M. Raimondo distributed hundreds of copies of what’s arguably become one of the most important documents of her...
ONCE MORE UNTO THE BREACH: Gov. Gina M. Raimondo's landmark 2011 state-worker pension reform needs some serious tweaking to make sure it stays on course. / PBN FILE PHOTO/ MICHAEL SALERNO

For R.I.’s economic health, it’s time for pension reform, part II

Despite the landmark state-worker pension reform legislation of 2011, which Gov. Gina M. Raimondo spearheaded while general treasurer, the system is facing yet another...
R.I. GENERAL TREASURER Seth Magaziner plans to introduce legislation that will allow municipal pension plans to more easily come under the management of the state pension system. / PBN FILE PHOTO/MICHAEL SALERNO

Magaziner to introduce legislation to entice local pension plans to join...

PROVIDENCE – In an effort to help shore up municipal balance sheets, the state’s general treasurer on Thursday announced legislation to encourage locally administered...

For relief, city must reform itself

As Providence looks to the General Assembly for more financial support, it's important to set a few ground rules.Yes, the Capital City has an...
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