Pension Reform

MOODY'S INVESTORS SERVICE said the failure of a proposed settlement of Rhode Island's pension lawsuit is a "credit negative" for the state. R.I. General Treasurer Gina M. Raimondo is one of the primary defendants in the case, along with Gov. Lincoln D. Chafee. The lawsuit is scheduled to go to trial Sept. 15. / PBN FILE PHOTO/RUPERT WHITELEY

Moody’s calls pension settlement failure ‘credit negative’ for R.I.

(Updated, 4:18 p.m.)PROVIDENCE – Moody’s Investors Service issued a warning on April 17 regarding Rhode Island’s failure to reach a settlement with public employee...
SUPERIOR COURT JUDGE SARAH TAFT-CARTER has denied the state's motion to dismiss state and municipal workers' lawsuit over pension reform, clearing the way for the case to go to trial in September. / COURTESY R.I. JUDICIARY/CRAIG N. BERKE

Judge rules state worker union pension lawsuit can go to trial

(Updated, 8:58 a.m.)PROVIDENCE – Superior Court Judge Sarah Taft-Carter on Wednesday denied a motion by the state of Rhode Island to dismiss the pension...
DAYS AFTER MEMBERS OF THE POLICE UNION rejected the negotiated settlement of public employee union lawsuits against pension reforms made in 2009, 2010 and 2011, throwing the entire deal into limbo, the state, led by Gov. Lincoln D. Chafee and General Treasurer Gina M. Raimondo,  has ended negotiations to try and solve the impasse. / PBN FILE PHOTO/TRACY JENKINS

Mediation ends, pension lawsuits heading to trial in fall

PROVIDENCE – Court-ordered settlement talks between the state and Rhode Island public employees and retirees over cuts in pension benefits have broken down, sending...
A SUPERIOR COURT judge sent the parties to the state pension lawsuit back into mediation Monday after 61 percent of police officers eligible to vote rejected the proposed settlement. / COURTESY WIKIMEDIA COMMONS

Judge orders renewed mediation on pension suit as police reject settlement

(Updated, 5:34 p.m.)PROVIDENCE – Superior Court Judge Sarah Taft-Carter ordered state and public employee union representatives back into mediation on Monday after 61 percent...

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...
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