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.
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.
Rhode Island Governor Lincoln Chafee is coming under fire for not releasing a report on Medicaid and food stamps fraud. The pension settlement reached between Providence and its workers and retirees has been approved. These stories and more on the RIPR Morning News Podcast.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. firstname.lastname@example.org
The mediation aimed at settling a legal challenge by a series of unions to the state pension overhaul of 2011 is set to continue through the month of February.
Superior Court Judge Sarah Taft-Carter met Friday morning with the two sides in the case, according to court spokesman Craig Berke. "They are going to continue to mediate," Berke said, adding that Taft-Carter is scheduled to get another update on February 28.
Superior Court Judge Sarah Taft-Carter is slated to consider next month a motion by the state to dismiss the challenge filed by a series of unions against Rhode Island’s landmark 2011 pension overhaul.
A hearing on the matter is scheduled for December 7. It is not known how long Taft-Carter will take to make her decision on the motion.
TIAA-CREF, the financial services firm selected as the state vendor for Rhode Island’s new defined contribution plan (following last year’s pension overhaul), is set for a grand opening in Providence tomorrow.