Magaziner to introduce legislation to entice local pension plans to join state system

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
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
PROVIDENCE – In an effort to help shore up municipal balance sheets, the state’s general treasurer on Thursday announced legislation to encourage locally administered pension plans to join the state’s system. There are currently 34 locally administered pension plans – entirely separate from the state-administered Municipal Employees’ Retirement System, or MERS. The plans report a…

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