Most of Rhode Island’s local pension plans are floundering

IGNORING WARNING SIGNS? A sign bearing the name of Johnston Mayor Joseph M. Polisena is seen at the town's high school. Johnston in 2013 settled a lawsuit with R.I. Resource Recovery Corp. and received $3 million. But unlike East Providence and North Providence, local lawmakers decided to spend the sudden influx of cash on a new athletic complex, named for the mayor, instead of its ailing pension system. / PBN PHOTO/MICHAEL SALERNO
IGNORING WARNING SIGNS? A sign bearing the name of Johnston Mayor Joseph M. Polisena is seen at the town's high school. Johnston in 2013 settled a lawsuit with R.I. Resource Recovery Corp. and received $3 million. But unlike East Providence and North Providence, local lawmakers decided to spend the sudden influx of cash on a new athletic complex, named for the mayor, instead of its ailing pension system. / PBN PHOTO/MICHAEL SALERNO
(Updated, July 1, 5:05 p.m.) Editor’s note: This is the second of a four-part series exploring how well Rhode Island cities and towns are funding municipal pension and benefit plans and the public-policy ramifications. Detective James Brady sits outside a coffee shop on Atwood Avenue in Johnston when a man approaches to say hello. “How’s…
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