State pension costs to double
PROVIDENCE, RI – Some pension costs will more than double next year for 11 of the communities in a state-managed pension program.
North Providence faces the largest increase for municipal employees, from $79-thousand to more than $600-thousand.
The pension figures were distributed at a meeting in Warwick of the Rhode Island League of Cities and Towns.
State Treasurer Gina Raimondo used the occasion to call on local officials to support a pension reform bill she's developing for legislative consideration this fall.
"When the state sends the bill to you, you send the bill to taxpayers - every single Rhode Islander, who can't afford it," she says. "The average Rhode Islander is struggling. So that's why pension reform matters."
The local officials responded by expressing support for Raimondo's message.
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