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Rhode Island
Monday, October 22, 2018

Pension Reform

R.I. message gaining U.S. traction

Gov. Gina M. Raimondo says that when out-of-state business leaders see her coming, they know what's about to happen. She's going to sell Rhode...
PROVIDENCE MAYOR Jorge O. Elorza said he is excited that Fitch Ratings "has recognized our efforts and has upgraded our credit rating." / PBN FILE PHOTO/MICHAEL SALERNO

Fitch upgrades Providence bonds

PROVIDENCE – Fitch Ratings has upgraded the city’s outstanding General Obligation bonds to A- from BBB-, and its Issuer Default Rating to BBB from...
MAYOR JORGE O. Elorza on Monday announced a year-end operating surplus of $5.14 million, which will be used to pay down the city’s multimillion dollar structural deficit.  / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS

Providence mayor announces $9.5M surplus

PROVIDENCE – Mayor Jorge O. Elorza on Monday announced a year-end operating surplus of $9.5 million, which will be used to pay down the...
R.I. Treasurer Seth Magaziner said in a news release that investments in seven hedge funds have been terminated. / PBN FILE PHOTO/ MICHAEL SALERNO

Rhode Island pension terminates Och-Ziff and Brevan Howard funds

PROVIDENCE - 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...
A SEMINAR HOSTED by a law firm and the R.I. League of Cities and Towns addressed the issue of unfunded pension and OPEB liabilities. / PBN FILE PHOTOS AND ILLUSTRATION

Moderator at forum about unfunded pension and OPEB liabilities: ‘One of...

PROVIDENCE – A change in accounting standards that will require governments to start disclosing the amount of unfunded pension and retiree benefits on yearly...
RHODE ISLAND ranks 39th among the states for its funded ratio of its public pension plan at 29.6 percent. This measure looks at the total value of a plan's assets weighed against its accrued liabilities; the data was included in a report from the American Legislative Exchange Council and State Budget Solutions. / COURTESY ALEC/STATE BUDGET SOLUTIONS

Report: State pension plans face growing challenges, R.I. no exception

PROVIDENCE – 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...

Psst, state pensions still need reform

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...
A SEMINAR HOSTED by a law firm and the R.I. League of Cities and Towns is set to address the issue of unfunded pension and OPEB liabilities. / PBN FILE PHOTOS AND ILLUSTRATION

Pension, OPEB ‘crisis’ to be examined at panel discussion

PROVIDENCE – Accountants, actuaries, politicians and union leaders are scheduled to meet on Friday to discuss the looming Rhode Island crisis related to public...

R.I.’s pension-return conundrum

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...
STEPPING UP: From left, Gov. Gina M. Raimondo, North Providence Mayor Charles A. Lombardi, General Treasurer Seth Magaziner and Cranston Mayor Allan W. Fung have all spoken about the state's need to address unfunded municipal pension liabilities and OPEBs.

Will leaders emerge to avert a looming municipal pension and benefit...

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...
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