Pension Reform

Retirees objecting to pension settlement file separate lawsuit

(Updated, 5:30 p.m.) PROVIDENCE – Fifty retired state employees and public school teachers have filed a lawsuit against the state of Rhode Island, objecting to...

Fitch: Pension settlement agreement positive for R.I.

NEW YORK – Fitch Ratings affirmed its “AA” rating and stable outlook on Rhode Island in light of last week’s announcement that a settlement...
GOV. LINCOLN D. CHAFEE and General Treasurer Gina M. Raimondo's settlement with state and municipal worker unions, if approved by the courts and the General Assembly, takes the unions' lawsuits out of play, while adding an estimated $232 million to the state and municipal pensions' unfunded liability, and increases the payment that the state, towns and cities are expected to make toward their workers' retirement plans. / PBN FILE PHOTO/TRACY JENKINS

State, unions reach settlement, liability grows by $232M

PROVIDENCE – Gov. Lincoln D. Chafee and General Treasurer Gina M. Raimondo have reached an agreement with representatives of government workers and retirees to...

State Retirement Board votes to approve pension settlement

(Updated, Feb. 14, 2:34 p.m.)PROVIDENCE – The State Retirement Board on Friday voted to approve a proposed settlement of the state pension reform lawsuits,...
RHODE ISLAND legislative leaders addressed job growth, tax structure, pension reform and other economic issues at the Greater Providence Chamber of Commerce's 2014 Legislative Lunch on Wednesday. From left: House Minority Leader Brian C. Newberry, House Majority Leader Nicholas A. Mattiello, Speaker of the House Gordon D. Fox, Chamber President Laurie White, Senate President M. Teresa Paiva Weed, Senate Commerce Committee Chairman Roger Picard and Senate Minority Leader Dennis L. Algiere. / COURTESY GREATER PROVIDENCE CHAMBER OF COMMERCE/CONSTANCE BROWN PHOTOGRAPHER

Legislators say of pension dispute Assembly must ‘wait and see’

(Updated, 6:33 p.m.)PROVIDENCE – Responding to the abrupt cancellation of a Wednesday press conference expected to announce details of a settlement in the state’s...
GENERAL TREASURER Gina M. Raimondo said the state is "still in the process of working out the details" of a proposed settlement of Rhode Island's battle with public-sector unions over pension reform. A 2:30 p.m. press conference expected to publicize details of the proposed settlement was called off early Wednesday morning. / BLOOMBERG FILE PHOTO/SCOTT EELLS

Press conference on pension settlement canceled, trial date set

(Updated 2:10 p.m.)PROVIDENCE – Superior Court Judge Sarah Taft-Carter has set a trial date for the state pension reform lawsuits following the cancellation of...

States’ revenue not keeping up with costs, report says

WASHINGTON – U.S. state revenue isn’t rising fast enough to keep up with the cost of funding pensions, health care and public works projects,...

Report highlights R.I. pension reform

WASHINGTON – A report released Tuesday by the American Legislative Exchange Council highlighted Rhode Island and three other states as models of effective pension...
THE PIONEER INSTITUTE found local public-employee pensions are overstaffed and inefficient, according to a policy brief released Wednesday. / BLOOMBERG FILE PHOTO/BRENT LEWIN

Think tank: Consolidating pension plans could save $25M in Mass.

BOSTON – The Pioneer Institute has found that the 105 separately-managed public-employee pension plans in Massachusetts are wasting $25 million each year, reported the...
ACCORDING TO A WPRI.COM REPORT, R.I. General Treasurer Gina M. Raimondo said the state's pension fund for the 2012- 2013 fiscal year earned 11.1 percent.  / PBN PHOTO/NATALJA KENT

Pension fund earned 11% last year on market rebound

PROVIDENCE – The pension fund for the state of Rhode Island earned 11.1 percent during the 2012 – 2013 fiscal year, a 9.7 percentage...
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