Updated December 7 at 5:07pm
Pension Reform
20 results total, viewing 1 - 10
Gov. Gina M. Raimondo says that when out-of-state business leaders see her coming, they know what's about to happen. She's going to sell Rhode Island to them. Of course she is. In a state that doesn't require big numbers to move the needle, … more
Fitch Ratings has upgraded the city’s outstanding General Obligation bonds to A- from BBB-, and its Issuer Default Rating to BBB from BBB-. more
Mayor Jorge O. Elorza on Monday announced a year-end operating surplus of $9.5 million, which will be used to pay down the city’s multimillion dollar structural deficit. 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
For those thinking that the finalized reforms to the state-worker pension system took care of all its issues, think again. The outstanding problem is the fund's assumed rate of return. At the moment it is 7.5 percent. And with the reforms, … 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
The R.I. State Retirement Commission last month decided to cut its roughly $1 billion investment into hedge funds in half, saying the asset has underperformed and cost the state too much in fees over the last five years. The precarious … more
Editor's note: This is the fourth and final installment in a series exploring how well Rhode Island cities and towns are funding municipal pension and benefit plans and the public-policy ramifications. Hours after a Rhode Island Superior … more
1 | 2 Next »