Pensions
Today, on the Rhode Island Center for Freedom & Prosperity blog, I’ve reviewed pensioners with very low pensions as well as those who receive more than one pension from plans administered by the state. On the latter count, many appear to involve survivor benefits bequeathed by a deceased spouse who would have received the pension…
I’ve taken a look at the public entities with the youngest retirees, as well as the wealthiest.
On Thursday, both the House and Senate Finance Committees voted out the pension reform bill. Check out Andrew’s post for an enlightening if not encouraging round-up/review. Thursday is also Valley Breeze day. This week’s edition contain a letter from Rep. Michael Chippendale and Sen. Nicholas Kettle explaining why they support the bill. No piece of…
Gotta love General Treasurer Gina Raimondo’s definition for legislative leadership: Follow the Senate president. Follow Speaker Fox. Be a leader. Lead by following! That sounds very Rhode Island. Real legislative leaders should be asking themselves why this whole process appears to be going so smoothly. Sure, the unions are putting on their show, as they…
Tonight, the pension bill was passed by the Finance Committees in both the House and Senate. In spite of some recent changes to the original bill, one thing that is not included is any help for the municipal retirement systems. I’ve seen and heard of some local mayors asking the General Assembly for help with…
I’ve added some different cuts of the data concerning RI public-sector pensioners who make more in pension than they did in pay. The most significant takeaway is that COLAs alone don’t account for the phenomenon; the top 50 pensioners making more than their salaries have base pensions (not counting COLAs) that are 95% of their…
1. According to Ted Nesi of WPRI-TV (CBS 12), there’s little change in the overall fiscal impact, between the original pension bill and the amended pension bill. 2. State Treasurer Gina Raimondo fully backs the revised bill, and is discouraging any amendments that would change around the fiscal particulars (h/t Ian Donnis)…“In the coming days,…
Courtesy the soon-to-be-dark (sniff) Ocean State Follies.
We all get that cost of living adjustments (COLAs) can carry a retiree’s pension above his or her highest working salary, and it’s not necessarily insidious. Somebody who lives long enough to be retired for thirty years has seen inflation erode the buying power of a dollar such that a salary from the early ’80s…
… Mr. Valletta, Paul Valletta of the State Association of Firefighters said [General Treasurer Gina] Raimondo “cooked the books” with actuarial assumptions and conservative market projections that exaggerate the pension system’s problems. He accused her of supporting “draconian” changes to the retirement system to raise her political profile. then you should have no problem immediately…