71.8 F
Providence, US
Friday, August 17, 2018

Pension Reform

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...
MANY VOICES BUT NOT SIGNIFICANT PROGRESS: While public officials, including, from left, Gov. Gina M. Raimondo, North Providence Mayor Charles A. Lombardi, General Treasurer Seth Magaziner and Cranston Mayor Allan W. Fung have talked about municipal unfunded liabilities for retirement benefits, there still has not been enough of an effort to put city and town finances on a sustainable path. / PBN ILLUSTRATION/LISA LAGRECA

State must take more active role in reforming municipal finances

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...
- Featured Event -

Latest News

WAIT

Summer Special!

 

 

Includes the 2018 AND 2019 Book of Lists FREE!

16108

Save 47% off our

regular subscription price of $99.00!



Only $52 for 52 Weeks!

WAIT

Summer Special!

 

 

Includes the 2018 AND 2019 Book of Lists FREE!

16108

Save 47% off our

regular subscription price of $99.00!



Only $52 for 52 Weeks!