PROVIDENCE, RI – State Treasurer Gina Raimondo is holding a workshop Tuesday for cities and towns with locally managed pensions.
The new state pension law requires communities to conduct actuarial studies by April first. Raimondo says cities and towns need to get up to date information before they can solve their local pension problems.
The workshop at CCRI's Warwick campus will feature presentations by pension experts and former New York lieutenant governor Richard Ravitch.
The 36 locally administered pensions in 24 cities and towns have an unfunded liability of $2 billion. Part of the difficulty in overhauling these plans is that there's legal uncertainty whether benefits given in contracts can be changed.
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