A conservative group is praising Rhode Island for overhauling its state pension plan in 2011. The changes made to the plan remain the subject of a lawsuit in Superior Court.
In a new report, the American Legislative Exchange Council, ALEC, praises Rhode Island for making significant changes to reduce its long-term pension obligations. The Virginia-based group calls the changes a contrast from states that hold hearings and organize study groups without taking action.
The federal spending sequester has been little more than an inconvenience for most Americans, especially in states that do not have a plethora of defense spending. As it turns out, the fortunes of Virginia and Rhode Island have been flipped due to changes in the economics of military-industrial complex spending.