pension

Is EngageRI Secrecy Hurting Raimondo?

Scott MacKay — Mon, 15 Apr 2013 12:11:56 +0000

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.

Cranston Mayor Makes "Breakthrough" Pension Deal

Ian Donnis — Mon, 08 Apr 2013 19:30:05 +0000

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.

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

Catherine Welch — Mon, 18 Mar 2013 17:50:25 +0000

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.

Providence and Unions Reach Pension Agreement

Ian Donnis — Tue, 12 Mar 2013 12:41:53 +0000

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.

State Pension Challenge on Hold as Negotiations Continue

Ian Donnis — Fri, 01 Mar 2013 13:43:27 +0000

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

Providence Sues Pension Adviser

Ian Donnis — Wed, 27 Feb 2013 12:48:22 +0000

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

Treasurer Raimondo rolls out report on her accomplishments

Flo Jonic — Mon, 28 Jan 2013 21:31:20 +0000

State treasurer Gina Raimondo has come out with a report documenting her first two years in office.

Raimondo says her biggest accomplishment in her first two years of office was passage of a pension overhaul package for state workers. While it shaved benefits, it guarantees pensions will be available for generations to come and saves taxpayers about four billion dollars over the next 20 years.

Raimondo also reports eliminating a backlog of 900 claims to the Crime Victim Compensation Program. Some of the claims dated back three or four years.

EngageRI reminds Chafee of how pension savings gave him budget flexibility

Ian Donnis — Thu, 17 Jan 2013 21:51:18 +0000

EngageRI, the pro-pension overhaul group started with encouragement from state Treasurer Gina Raimondo, is reminding Governor Lincoln Chafee of how pension savings made possible many of the initiatives in his new budget.

EngageRI chairman John Galvin says in a statement:

Former federal official calls RI pension case "the mother of all mediations"

Ian Donnis — Mon, 07 Jan 2013 21:46:55 +0000

A former head of the Federal Mediation & Conciliation Service -- the government arm mediating Rhode Island's pension dispute among eight parties -- calls the case "the mother of all mediations."

Peter J. Hurtgen, who led the FMCS from 2002 through 2004, says a subset of the eight parties in mediation could potentially reach some areas of agreement among themselves. But he says the complexity of the case makes it unusually fraught for mediation:

Raimondo talks pension and her priorities for 2013

Ian Donnis — Thu, 03 Jan 2013 17:10:39 +0000

The fate of the 2011 pension overhaul in mediation is among the top issues facing the state starting this month. As we transition into the New Year, Rhode Island Public Radio political reporter Ian Donnis has been talking with state leaders. We’ve already heard from Governor Lincoln Chafee and state Senate president Teresa Paiva Weed…. Our latest interview is with state Treasurer Gina Raimondo.