State officials and the public-employee unions that sued over a 2011 overhaul of the state pension system have reached a settlement, yet the deal remains shrouded in secrecy in advance of its expected unveiling Wednesday afternoon.
Governor Lincoln Chafee and Treasurer Gina Raimondo briefed House Speaker Gordon Fox and Senate President Teresa Paiva Weed on highlights of the agreement during a closed-door Statehouse meeting Monday afternoon. Fox declined to offer any specifics after emerging from the meeting:
The two sides in Rhode Island’s ongoing lawsuit over the state’s pension overhaul meet today to update a judge on their efforts to reach a settlement. The case has been in mediation for about a year now, but
little is known about how the closed door negotiation has been playing out. The outcome could have a major impact on the state’s bottom line, since architects crafted the pension overhaul to reduce the amount of money Rhode Island has to pay to retired state workers.
For more insight, we turn to Rhode Island Public Radio’s Political Analyst Scott MacKay.
House Minority Leader Brian Newberry (R-North Smithfield) joins Political Roundtable this week to discuss the possible fate in the General Assembly of the 2011 pension overhaul; continued fallout from the failure of 38 Studios; and the intensifying race for governor.