A Superior Court judge is slated to get an update Monday on the status of mediation on the overhaul of the state pension system in 2011.
Judge Sarah Taft-Carter ordered the mediation in December 2012. That came after a series of public-employee unions challenged the pension overhaul in court. The unions claim that changes including cuts to benefits for retirees are unconstitutional.
Here we go: after months (years?) of salivating by local political junkies, Rhode Island's 2014 race for governor is about to get real. Sure, most voters won't tune in until some time next year, but an announcement on Monday will mark a new phase in the contest. So thanks for stopping by, and as always, feel free to drop me a line at idonnis (at) dot (org) or to follow me on the twitters. Let's head in.
State Treasurer Gina Raimondo is throwing cold water on a plan advanced by Frank Caprio, the man who wants her job.
Caprio has proposed reducing pension fund investment fees and funneling that money back into cost of living increases for teachers and public employees. Their pensions were frozen in 2011 as part of a package of legislative reforms to shore up the ailing pension system.
The two sides discussing a possible settlement over the 2011 overhaul of Rhode Island’s state pension system will have a few more weeks to talk.
The two sides met Thursday afternoon with Superior Court Judge Sarah Taft-Carter. In the latest in a series of continuances, she scheduled another update on ongoing mediation in the case for September 30.
Taft-Carter ordered mediation last December after a series of public-employee unions filed a suit over the pension overhaul. The unions say the overhaul went too far in cutting benefits and violated their constitutional rights.
Pablo Rodriguez joins the Roundtable this week as we discuss ongoing mediation over Rhode Island's pension lawsuit; the start next week of a 10-cent toll on the Sakonnet River Bridge; Roman Catholic Bishop Thomas Tobin's decision to become a Republican; and the US Justice Department stepping away from mandatory minimum sentences for drug crimes.
Democratic candidate for treasurer Ernest Almonte joins the Roundtable to discuss lingering questions about 38 Studios; the state pension fund's stake in hedge funds; and how John Robitaille could remake the GOP field for governor in 2014.
Four groups -- Common Cause of Rhode Island, the Rhode Island Press Association, and the state chapters of the ACLU and the League of Women Voters -- say state Treasurer Gina Raimondo needs to offer more disclosure about the state pension fund's investment in hedge funds.
Superior Court Judge Sarah Taft-Carter is scheduled to get the next update in the case on September 5, according to court spokesman Craig Berke. The hearing will take place in Kent County, since Taft-Carter is being assigned there this fall.
Rhode Island’s pension fund earned a return on its investment of a little more than 11 percent for the fiscal year that ended June 30th. But state Treasurer Gina Raimondo is sounding a warning about the future of the state’s pension plan.
The 11.1 percent earned by the state pension fund is a big improvement over the 1.4 percent return a year earlier. Still, Rhode Island fared a bit worse than the 12.5 percent earned by the country’s largest public employee pension system, CALPERS, over the same period.