Monday, April 19, 2021

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MATTER OF OPINION: Former R.I. Supreme Court Justice R­obert G. Flanders Jr. speculates that the recent high court decision on a pension dispute between the city of Providence and a group of municipal retirees might make bankruptcy more palatable for municipalities. / PBN PHOTO/ MICHAEL SALERNO

Court ruling on Providence pensions will have ripple effects

Rhode Island is no stranger to pension problems. Even after a major state-level overhaul of the Employees’ Retirement System of Rhode Island led by then-R.I....
Robert Stabile

Fiduciary awareness is crucial

“Whoever is careless with the truth in small matters cannot be trusted with important matters.” – Albert Einstein Ten years ago, the pension fund for the...
THE GENERAL ASSEMBLY passed a bill that alters the Hospital Conversions Act to extend review of hospital acquisitions. / PBN FILE PHOTO/NICOLE DOTZENROD

General Assembly passes changes to strengthen Hospital Conversion Act

PROVIDENCE – A bill passed by the General Assembly over the weekend amends the Hospital Conversions Act to increase oversight time for hospital conversions...
A FEDERAL JUDGE issued preliminary approval to a settlement between the St. Joseph Health Services of Rhode Island Retirement Plan and CharterCARE Community Board, St. Joseph Health Services of Rhode Island and Roger Williams Hospital. Attorney Stephen Del Sesto is the court-appointed receiver for the St. Joseph pension plan. / PBN FILE PHOTO/MICHAEL SALERNO

St. Joseph pension plan $12M settlement with some defendants get preliminary...

PROVIDENCE – A settlement between Stephen Del Sesto, receiver and administrator of the St. Joseph Health Services of Rhode Island Retirement plan, and CharterCARE...
FITCH RATINGS said that Rhode Island was one of seven states where public pensions underperformed assumptions by more than 2 percentage points from 2001 to 2017. / BLOOMBERG NEWS FILE PHOTO/SCOTT EELLS

Report: R.I. public pensions underperform assumptions by over 2 percentage points...

PROVIDENCE – Rhode Island’s state and local pensions had 10-year average returns of 5.1% and 17-year average returns of 5.7%, according to a new...

Elorza proposes $773M FY20 budget, denounces ‘extremism’ in national politics

PROVIDENCE – Mayor Jorge O. Elorza on Tuesday announced a proposed $772.6 million fiscal 2020 city budget, with a 3.2% spending increase above the...

Pension plans’ risky flirtation with private equity

The pension crisis is a slow-moving train wreck that will likely cause huge problems for many municipalities and their retirees that are banking on...

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