Pensions
In the comments to my post on RI Sen. Minority Leader Dennis Algiere (R., Westerly), Monique asks a reasonable question: Is there even one municipality in Rhode Island who can fund the new (HIGHER) contribution specified last week by the state Retirement Board? To answer, I think it is necessary to begin by saying that…
RI Senate Minority Leader Dennis Algiere (R, Westerly) reminds me that I’m wary of consolidation, even when it’s meant to resolve the state’s pension crisis. The voices of National Education Association Rhode Island Executive Director Bob Walsh calling for reamortization of the pension system and union consultant Tom Sgouros urging Rhode Island to treat pensions…
On Wednesday, the Retirement Board ordered that Rhode Island taxpayers boost their annual pension contribution by $266 million in a desperate effort to make up for the decades of underfunding of state and local pensions that were far too generous to begin with. By the way, the unfunded liability of public employees’ post-retirement benefits is…
R.I. taxpayers facing increased contribution to state pensions. For Men: …the moves would increase the projected amount that state and local taxpayers are required to pay for these public employee pensions from an overall $308.5 million this year and $358.7 million next year to $621.8 million in the budget year that begins July 1, 2012.…
Marc and Matt discussed the hammer that keeps pounding Rhode Island on last night’s Matt Allen Show. Stream by clicking here, or download it.
Rhode Islanders are used to thinking in proportional terms. When state-to-state comparisons are made, we look for the percentages and ratios because absolute numbers typically mean little. Sure, Massachusetts’ government spending is many times Rhode Island’s, but the question is how much it amounts to per capita. So, at first glance, one may very well…
Turn to 10’s Bill Rappleye reported shortly after 6:00 this evening that General Treasurer Gina Raimondo will not submit a pension reform plan for consideration in the next six weeks; i.e., by the end of this General Assembly session. This contradicts a statement by Speaker Fox, by the way, who, give him credit for demonstrating…