RIPR News
8:36 am
Wed September 21, 2011

Raimondo leads House pension briefing

PROVIDENCE, RI – The topic of pensions will return front and center at the Statehouse today. State Treasurer Gina Raimondo will kick things off with a pension briefing to the House of Representatives. She offered a similar overview last week to the state Senate.

Following the briefing is the second in a series of three joint House-Senate Finance Committee meetings. The focus will be municipal pensions that operate outside of the state retirement system. Those municipal plans have an unfunded pension tab of about two billion dollars.

These meetings are being held to inform the General Assembly before a planned special session next month on pension reform. Without changes, the cost of state pension system will roughly double next year, to more than 600 million dollars, and strip money from other needs.

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