Updated January 16 at 12:25pm
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Despite ending fiscal 2016 with a $10.3 million budgetary surplus, long-term obligations continue to paint a dreary financial picture in Providence. more
The U.S. Securities and Exchange Commission is nearing a settlement with R.I. Commerce Corp. in the ongoing securities fraud lawsuit related to 38 Studios LLC. more
Rhode Island’s $7.7 billion pension fund terminated investments in seven hedge funds, including Brevan Howard Asset Management and Och-Ziff Capital Management Group LLC, after voting last month to cut its allocation in half over two years. more
A change in accounting standards that will require governments to start disclosing the amount of unfunded pension and retiree benefits on yearly balance sheets could put new pressure on public officials to step up payments on these plans, according to speakers at a conference organized by Donoghue Barrett & Singal P.C. and the Rhode Island League of Cities and Towns. more
Nationwide, a new report says that state public employee pension plans are underfunded by nearly $5.6 trillion. At $18.6 billion, Rhode Island’s unfunded liability is one of the smallest among the 50 states, thanks to its size and fewer employed workers. more
Accountants, actuaries, politicians and union leaders are scheduled to meet on Friday to discuss the looming Rhode Island crisis related to public pensions and other post-employment benefits at a seminar dubbed “The Gathering Storm.” more
A Superior Court judge on Friday approved a proposed $2.5 million settlement between the state and former executives of the failed video game company 38 Studios LLC, including former Boston Red Sox pitcher Curt Schilling. more
Despite various objections, a Superior Court judge on Tuesday approved a $25.6 million settlement between two defendants and the state in the ongoing 38 Studios LLC civil lawsuit. more
The R.I. Economic Development Corp. is urging the R.I. Superior Court to approve a proposed settlement in the ongoing 38 Studios LLC lawsuit, despite a recent legal objection that the state is calling “inflammatory.” more
First Southwest Co., a financial planning company, on Monday filed an objection to a $25.6 million settlement between the state and two other defendants in the ongoing civil lawsuit related to 38 Studios LLC. more
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