The state retirement board voted in closed session Friday afternoon to approve a proposed pension settlement. The board met in executive session for nearly an hour, ending in a vote of 6 – 1, with 5 abstentions.
Democratic gubernatorial candidate Gina Raimondo started fleshing out her vision for Rhode Island as she formally announced her campaign Monday morning.
Raimondo emphasized the economy, laying out ideas that include writing off some college loans to encourage grads to stay in Rhode Island, creating a funding formula for road and bridge improvements, and establishing an institute to foster growth-sector jobs.
It’s official. Former state treasurer Frank Caprio is running for his old job. And he’ll be running as a member of his old party.
After disaffiliating from the Democratic Party and toying with the idea of running as a Republican, Frank Caprio has decided to run for his old job as general treasurer as a Democrat. Announcing his candidacy at a Federal Hill pizzeria, he explained his reasoning.
Rhode Island’s politicians are talking about the economy again. RIPR political analyst Scott MacKay warns of a campaign cliché voters ought to view with skepticism.
As predictable as the turning of autumn leaves, Rhode Island’s political campaigns will once again be filled with talk about creating jobs and jump-starting our stalled economy. Expect to hear the ancient Ocean State chestnut from the pols who’ll say, the biggest economic fear of Rhode Islanders is that their children can’t stay in our state because there aren’t enough jobs.
Rhode Island’s pension fund earned a return on its investment of a little more than 11 percent for the fiscal year that ended June 30th. But state Treasurer Gina Raimondo is sounding a warning about the future of the state’s pension plan.
The 11.1 percent earned by the state pension fund is a big improvement over the 1.4 percent return a year earlier. Still, Rhode Island fared a bit worse than the 12.5 percent earned by the country’s largest public employee pension system, CALPERS, over the same period.
State treasurer Gina Raimondo has come out with a report documenting her first two years in office.
Raimondo says her biggest accomplishment in her first two years of office was passage of a pension overhaul package for state workers. While it shaved benefits, it guarantees pensions will be available for generations to come and saves taxpayers about four billion dollars over the next 20 years.
Raimondo also reports eliminating a backlog of 900 claims to the Crime Victim Compensation Program. Some of the claims dated back three or four years.
Rhode Island’s state pension overhaul faces a Superior Court hearing next month. RIPR political analyst Scott MacKay wonders if it’s time for the parties to negotiate.
Our state’s landmark pension overhaul heads to Superior Court on December 7. Rhode Islanders of a certain age recall that as the day that lives “in infamy,’’ in the immortal words uttered by President Franklin Roosevelt, to a stunned nation in 1941 after the Pearl Harbor attack.
Every newspaper has sacred cows. The Providence Journal’s latest is State Treasurer Gina Raimondo. The mordant newsroom joke is that Raimondo is so sacred that she `moos’. Raimondo is a favorite of publisher Howard Sutton; the two served together on the board of Crossroads, which does much good work in our community to help the homeless get back on their feet.