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R.I. AUDITOR GENERAL Dennis E. Hoyle released a report Friday that found the state worker pension plans had strong investment returns in fiscal 2017 but have fallen further behind their contractual payout obligations in the last three years. /PBN FILE PHOTO/MICHAEL SALERNO

State worker pension system had strong returns in ’17 but liability...

PROVIDENCE – Despite growing $686 million in fiscal 2017, the financial health of the state’s retirement system by some measures has declined in recent...
R.I. TREASURER SETH MAGAZINER announced that the Rhode Island pension fund earned $1.09 billion in 2017. / PBN FILE PHOTO/MICHAEL SALERNO

R.I. pension fund earned $1.09 billion in 2017

PROVIDENCE – Rhode Island’s pension fund earned more than $1.09 billion in 2017, ending the year with a value of $8.4 billion, R.I. Treasurer...

Task force recommends $500M bonding for school repairs, construction

PROVIDENCE – The Rhode Island School Building Task Force has recommended issuing $500 million in state general-obligation bonds for public-school construction and repair over...

Magaziner joins coalition against Trump administration’s Clean Power Plan repeal

PROVIDENCE – General Treasurer Seth Magaziner has joined a coalition of 11 state treasurers and local comptrollers asking the Environmental Protection Agency to halt...
R.I. GENERAL TREASURER Seth Magaziner arranged for representatives from some of the largest credit rating agencies to come to Rhode Island to meet with city and town officials so they could learn more about how municipalities are evaluated. / PBN FILE PHOTO/MICHAEL SALERNO

Municipalities meet with credit rating agencies in Rhode Island

PROVIDENCE – Several city and town officials last week met with representatives of the largest credit rating agencies to learn more about how municipalities...
IN THE VAULT: Treasurer Seth Magaziner, with Lammis Vargas, director of the Unclaimed Property Division of Rhode Island, inside a vault with various items that ended up being unclaimed from bank safe-deposit boxes. / PBN PHOTO/­MICHAEL SALERNO

State looks to connect people, $300M that belongs to them

For many years, state governments in the United States have published websites linked to databases of names and addresses, spreading the word that they’re...
GENERAL TREASURER Seth Magaziner, left, celebrates moving $15 million in state deposits to local banks and credit unions at Budare Grille in Central Falls in August./ COURTESY R.I OFFICE OF THE GENERAL TREASURER

Magaziner receives national recognition for BankLocal program

PROVIDENCE – Rhode Island General Treasurer Seth Magaziner has received national recognition for his BankLocal program, which incentivizes financial institutions to make loans with...
SETH MAGAZINER is the Rhode Island general treasurer and is the custodian of all unclaimed property. / PBN PHOTO/ MICHAEL SALERNO

State to return $10M in unclaimed property to 35K Rhode Islanders

PROVIDENCE – Christmas could come a little early this year for 35,000 unsuspecting Rhode Islanders.The R.I. General Treasurer’s Office has designed a program matching...
BUYOUTS: Gov. Gina M. Raimondo’s decision to offer about 1,000 public employees early-retirement buyouts has received criticism from former Gov. Lincoln D. Chafee, saying the buyouts could delay cost-of-living adjustments owed to retirees beginning in fiscal 2030-31. / PBN FILE PHOTO/

Chafee fears buyout plan would delay COLAs

In an attempt to find savings in what’s become a challenging budget year, the state is offering about 1,000 public employees early-retirement buyouts.The offer...
SETH MAGAZINER, Rhode Island general treasurer, was one of 15 millennial-age elected officials in the Ocean State to write a letter to federal lawmakers, urging the rejection of the Congressional Republicans’ tax-cutting legislation known as the "Tax Cuts and Jobs Act." / PBN FILE PHOTO/MICHAEL SALERNO

R.I. millennial lawmakers oppose congressional tax-cutting bill

PROVIDENCE – A host of millennial-age elected officials last week wrote a letter to federal lawmakers, urging the rejection of the congressional Republicans’ tax-cutting...
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Wednesday December 5, 2018

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