New advisory council to oversee local pension plans awaiting governor’s signature

STATE SEN. RYAN W. Pearson sponsored legislation that was approved by the R.I. General Assembly last week to create a five-member advisory council to oversee 33 locally administered pension plans across 24 Rhode Island cities and towns. / COURTESY R.I. GENERAL ASSEMBLY
STATE SEN. RYAN W. Pearson sponsored legislation that was approved by the R.I. General Assembly last week to create a five-member advisory council to oversee 33 locally administered pension plans across 24 Rhode Island cities and towns. / COURTESY R.I. GENERAL ASSEMBLY
PROVIDENCE – Pending Gov. Gina M. Raimondo’s signature, Rhode Island will establish a new advisory council to oversee local pension plans, which together are underfunded by more than $2 billion. The R.I. General Assembly last week passed legislation to create a five-member advisory council to oversee 33 locally administered pension plans across 24 Rhode Island…
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