pension

On Politics
3:18 pm
Thu August 8, 2013

Four Groups Press Raimondo for More Disclosure on Hedge Funds

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.

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On Politics
1:18 pm
Tue August 6, 2013

Mediation Continues in Unions' Legal Challenge to 2011 Pension Overhaul

Mediation will continue in the high-stakes legal challenge by a series of public-employee unions to the overhaul of the state pension system that became law in 2011.

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.

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RI News
3:17 pm
Wed July 24, 2013

Raimondo: Pension Fund up by 11%, but Vulnerable to Economic Crises

State Treasurer Gina Raimondo says state pension system earned 11.1 percent.
Credit file / RIPR

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.

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On Politics
5:32 pm
Wed June 5, 2013

Tensions Flare Anew Between Raimondo's Office and Siedle

State Treasurer Gina Raimondo's office and one of her most prominent critics, Ted Siedle, are trading shots anew after the state's largest public-employee union hired Siedle to review the work of the state Investment Commission.

In a statement, Raimondo spokeswoman Joy Fox says:

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Scott MacKay Commentary
8:11 am
Mon April 15, 2013

Is EngageRI Secrecy Hurting Raimondo?

In politics, as in pensions, assets can turn into liabilities. RIPR political analyst Scott MacKay wonders if an advocacy group for pension overhaul that doesn’t need to disclose its members has become state Treasurer Gina Raimondo’s Achilles heel.

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Municipal Pensions
3:30 pm
Mon April 8, 2013

Cranston Mayor Makes "Breakthrough" Pension Deal

Cranston Mayor Allan Fung announces a pension deal at city hall Monday.
Credit Ian Donnis / RIPR

Cranston Mayor Allan Fung announced an agreement Monday to improve the condition of one of the worst funded municipal pensions in the state.

Fung says the deal will save Cranston $6.5 million in pension costs over the next fiscal year while solving a lingering problem.

“This issue has been an albatross over the city for decades, close to half a century, and this agreement shows the progress that can be made when all parties come together in a spirit of cooperation,” said Fung.

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Pension Overhaul
1:50 pm
Mon March 18, 2013

Raimondo Tells Bond Buyer Crowd: No Short Cuts to Pension Fix

Firefighters protest Treasurer Gina Raimondo's keynote speech at a conference in downtown Providence.
Credit Catherine Welch / RIPR

About a hundred firefighters protested Monday morning outside a conference focused on distressed municipalities, where state treasurer Gina Raimondo was the keynote speaker. Inside, Raimondo applauded the cooperation it took from organized labor to make the state pension overhaul possible.

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Politics
8:41 am
Tue March 12, 2013

Providence and Unions Reach Pension Agreement

Providence Mayor Angel Taveras
Credit Flo Jonic / RIPR

A Superior Court judge has approved pension settlement in Providence with retirees and current workers.  Judge Sarah Taft-Carter is expected to finalize the agreement next month.

The Providence pension settlement includes freezing cost of living adjustments, scaling back future benefits and moving retirees over to Medicare.

In her decision, Taft-Carter calls the settlement fair, reasonable, and adequate. Providence Mayor Angel Taveras calls the approval a significant step to finalizing the city’s pension agreement.

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Pensions
8:43 am
Fri March 1, 2013

State Pension Challenge on Hold as Negotiations Continue

RI State House
Credit Kristin Gourlay / RIPR

A legal challenge to the overhaul of the state pension system will remain on hold as the two sides continue to mediate the dispute.

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Politics
7:48 am
Wed February 27, 2013

Providence Sues Pension Adviser

Providence City Hall
Credit RIPR file

The City of Providence is suing its longtime actuary, claiming the company made a $10 million mistake in pension calculations.

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