pension

Politics
3:14 pm
Tue December 18, 2012

Raimondo pledges "good faith" effort on pension mediation; Chafee "pleased"

State Treasurer Gina Raimondo, a leading advocate for litigating the pension case in court, is out with a statement responding to the mediation ordered this morning by Judge Sarah Taft-Carter:

“I have great respect for the judicial system and it is important to let this process unfold in an orderly and transparent way. We owe that to the people of Rhode Island and to our public employees.

Read more
Politics
12:19 pm
Tue December 18, 2012

Taft-Carter orders mediation in the pension lawsuit

Superior Court Judge Sarah Taft-Carter this morning told the two sides in the legal challenge to last year's landmark overhaul of the pension system to try to settle their differences through mediation.

Court spokesman Craig Berke says the talks will be facilitated by the Federal Mediation and Conciliation Service, a branch of the federal government. Taft-Carter is due to be updated on the status of the discussions in early February.

Read more
Politics
2:19 pm
Mon December 17, 2012

Raimondo hires new chief investment officer for state

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. 

Read more
On Politics
4:15 pm
Fri December 14, 2012

Providence police overwhelmingly approve settlement on benefit cuts

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.

Read more
On Politics
4:47 pm
Thu December 13, 2012

Diossa says EngageRI should disclose its contributors

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.

Read more
Politics
12:22 pm
Wed December 12, 2012

The one percent and Rhode Island's pension overhaul

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.

Read more
On Politics
5:22 am
Thu October 25, 2012

Raimondo annointed a “brave thinker” by The Atlantic

The Atlantic has the latest media outbreak of Raimondomania:

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.

Read more

Pages