2014 Government Regulations & Business Summit
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By PBN Staff
The pension-overhaul plan proposed by Gov. Lincoln D. Chafee and Treasurer Gina Raimondo requires that every community with a liability less than 60 percent funded must come up with a plan by April to restore solvency. Communities that fail to meet the deadline could see cuts in noneducation aid.
Some business leaders have said fixing the state pension system should be the first priority. They worry that the bill lawmakers are scheduled to begin holding public hearings on this week could be derailed by opposition to the provision for municipal plans.
The governor, however, insisted that municipal plans be part of the current pension-reform bill.