Tagged: pension

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.

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.