Pension Reform
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Moody’s downgrades Johnston to A3, outlook ‘negative’
NEW YORK – Moody’s Investors Service – a globally recognized rating agency – has downgraded the town of Johnston’s general obligation rating from A2 to A3, outlook ‘negative.’ The … more
| 8/22/12
Raimondo pension lawsuit seen risking bankruptcies
Rhode Island Treasurer Gina Raimondo championed an overhaul last year of one of the nation’s worst- funded public pensions, setting out a road map for states and cities by curbing benefits and delaying retirements. more
Warwick City Council approves union contracts
Monday evening, the Warwick City Council unanimously approved three contracts with the city’s municipal employee, police and firefighters’ unions. more
Warwick reaches agreement with Fire, Police
The city of Warwick has reached new, three-year contracts with the city’s fire and police unions, Mayor Scott Avedisian announced Monday. more
| 7/3/12
Brown to benefit from $127M bond sale
Brown University will use a $127.4 million bond sale to renovate downtown property after agreeing in May to almost double annual payments to the city. more
Public sector workers digging in to save pensions under assault
Leaders of the largest U.S. union of public-sector workers are vowing to fight efforts by state and local governments to balance their budgets with cuts to employee benefits even as voters have sided with that strategy. more
Report: R.I.’s pensions, retiree benefits cause for ‘serious concern’
According to the Pew Center report - “The Widening Gap Update” – Rhode Island’s management of its long-term liabilities for pensions and retiree health care were cause for “serious concern.” more
| 5/19/12
House Finance Committee approves $8.1B 2013 budget
The House Finance Committee unveiled and then approved an $8.1 billion fiscal 2013 state budget late Thursday night, which scraps controversial meals, hotel and sales tax expansions more
Providence breaks $700,000 pension link joining nationwide insolvency fight
Providence lawmakers - facing a $1 billion deficit and squeezed for cash - reformed pensions, ending automatic raises and capping annual payouts and joining a national insolvency fight over pensions. more
Warwick pensions labeled ‘critical’
City actuaries have labeled Warwick’s Police and Fire I pension plan as “critical,” according to a letter circulated by Warwick City Councilman Joseph Solomon. more
| 5/22/12
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