Tag: Pensions
This step could ease R.I.’s pension woes
Rhode Island’s pension problems are back in the headlines with Providence Mayor Jorge O. Elorza’s proposal to issue a pension obligation bond for approximately...
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....
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...
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...
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...
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...