A conservative group is praising Rhode Island for overhauling its state pension plan in 2011. The changes made to the plan remain the subject of a lawsuit in Superior Court.
In a new report, the American Legislative Exchange Council, ALEC, praises Rhode Island for making significant changes to reduce its long-term pension obligations. The Virginia-based group calls the changes a contrast from states that hold hearings and organize study groups without taking action.
Four groups are calling on state Treasurer Gina Raimondo to release more information about hedge fund investments in Rhode Island’s pension plan.
The groups say they’re troubled by how Raimondo’s office, in a recent response to the Providence Journal, heavily redacted some details about the hedge fund investments. The four organizations are Common Cause of Rhode Island, the RI Press Association, and the state chapters of the ACLU and the League of Women Voters.