State Treasurer Gina Raimondo raised just under $400,000 in the quarter that ended June 30, pushing her campaign cash arsenal past the staggering sum of $2 million.
Meanwhile, attracting a stronger fundraising base seemed to be part of the rationale when Governor Lincoln Chafee switched from an independent to a Democrat in May. Yet Chafee raised a modest $69,765 for the quarter, according to a report filed with the state Board of Elections.
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.
Publicizing ways of making Rhode Islanders more financially literate has been a priority of State General Treasurer Gina Raimondo since she took office in 2011. But a national study by the Center for Financial Literacy at Champlain College in Vermont, which assigned grades to states according to the quality of their financial literacy programs has rated Rhode Island one of 11 states that was given an `F’ grade in financial literacy.
Moderate Party gubernatorial candidate Ken Block has hired a veteran of Rhode Island politics to manage his run for governor next year.
Block has hired Jeff Britt to run his latest campaign for governor. Last year, Britt managed a spirited run by an independent challenger to House Speaker Gordon Fox. Block said he thinks Britt has the ability to make a big difference in his campaign.
Providence Mayor Angel Taveras is supporting the General Assembly’s inclusion of money to pay back bondholders who invested in failed video game maker 38 Studios. The legislative budget includes two and a half million dollars for the bondholders.
Will Rhode Island ever get beyond the shadow of the 38 Studios-Curt Schilling disaster. RIPR political analyst Scott MacKay on why state government so far has not developed options for putting this behind us.
President John F. Kennedy said famously that ``life is unfair.’’ Some men,’’ he noted, ‘’are killed in a war, some men are wounded and some men never leave the country.’’
The Republican leader in the Rhode Island House of Representatives is urging lawmakers to reject calls to pay back bonds for failed video game company 38 Studios. Other state officials say a failure to pay back the bonds will hurt the state.
House Minority Leader Brian Newberry says the 6 Republicans in the House will unanimously oppose any effort to repay the 38 Studios bonds. He said legislative Democrats are rushing to judgment on the issue without having done their homework.
Gov. Lincoln Chafee is shrugging off news that New York City Mayor Michael Bloomberg is holding a fundraiser this week for state Treasurer Gina Raimondo.
Bloomberg stumped for Chafee in the 2010 governor’s race calling him one of the nation’s most effective leaders. Channel 12 reports that Bloomberg is hosting a fundraiser Thursday for treasurer Gina Raimondo, who is expected to run for governor.
An audit shows that six state retirees received a combined overpayment of almost 560-thousand dollars in disability pensions. The state retirement system is working with law enforcement to determine whether to pursue criminal or civil charges against the individuals.
In a statement, state Treasurer Gina Raimondo said the retirees received the overpayments between 2001 and the end of 2011. Raimondo, who chairs the state Retirement Board, said disability pensions have been suspended for the six individuals.