State Treasurer Gina Raimondo has hired Anne-Marie Fink as the state's chief investment officer, replacing Kenneth Goodreau, who, Raimondo says, is leaving after four years for a CIO job with TIG Advisors, effective January 1.
Via news release:
Fink will be responsible for managing the state's $7.3 billion dollar pension system.
Providence police on Thursday approved, by an 89 percent margin, a settlement with the City of Providence that, the city says, saves $18.5 million in the current budget year and cuts the pension plan’s unfunded liability by at least $170 million. The vote, word which came in via mobile phones as city officials joined reporters for a holiday party at the home of David Ortiz, Mayor Angel Taveras’ press secretary, is the latest in a string of negotiated settlements in Providence.
James Diossa, the mayor-elect of Central Falls, says EngageRI should disclose its contributors in the interest of transparency.
“I’m all about open [government] and honest and transparency, so I believe it should be open,” Diossa said during a taping this morning of RIPR’s Political Roundtable. The segment will air during Morning Edition at 5:40 and 7:40 on Friday.
Old friend (and former ProJo reporter) Mike Corkery of the Wall Street Journal has broken a very interesting Rhode Island pension story. As first picked up by the sharp-eyed Ted Nesi of WRPI_TV, Corkery’s story reveals that a Texas Enron trader billionaire is a hefty contributor to the Engage Rhode Island pension overhaul advocacy group that has been championed by State General Treasurer Gina Raimondo.
Once upon a time, politicians across the land found a magical formula for achieving popularity. They kept public employees’ pay low, enabling low tax rates (hooray!); to make up for the low pay, they promised fat pensions down the road (huzzah!). The pensions were funded by gimmicks and wishful thinking. But that would be a problem for future politicians to reckon with.