Democratic candidate for treasurer Ernest Almonte joins the Roundtable to discuss lingering questions about 38 Studios; the state pension fund's stake in hedge funds; and how John Robitaille could remake the GOP field for governor in 2014.
Four groups -- Common Cause of Rhode Island, the Rhode Island Press Association, and the state chapters of the ACLU and the League of Women Voters -- say state Treasurer Gina Raimondo needs to offer more disclosure about the state pension fund's investment in hedge funds.
Mediation is set to continue over the challenge by a series of public-employee unions to an overhaul of the state pension system in 2011.
The outcome of the case has big implications for the state.The two sides in the pension case have repeatedly asked for more time to mediate their differences. Following another such request, the next update is slated before Superior Court Judge Sarah Taft-Carter on September 5th. Taft-Carter was the one who ordered mediation in the case last December.
Superior Court Judge Sarah Taft-Carter is scheduled to get the next update in the case on September 5, according to court spokesman Craig Berke. The hearing will take place in Kent County, since Taft-Carter is being assigned there this fall.
Thanks to contributions during the quarter that ended June 30th, state Treasurer Gina Raimondo has a campaign war chest of more than 2 million dollars. Raimondo is among three Democrats expected to run for governor next year.
Raimondo continued her pacesetting fundraising by collecting just under 400-thousand dollars during the most recent quarter. Her 2 million dollar-plus war chest is thought to be a Rhode Island record for a candidate yet to announce a gubernatorial campaign.
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.