RI pension deal announced that aids retirees; state efforts widely seen as model for others
PROVIDENCE, R.I. - Rhode Island state leaders and union officials have reached a deal to end legal wrangling over a landmark pension overhaul that's been a model for other states seeking to rein in runaway pension costs.
The proposed settlement would resolve a lawsuit from public workers and retirees unhappy with the 2011 law, which raised retirement ages and suspended pension increases.
The deal must be ratified by lawmakers and unions. The biggest change includes restoring pension increases sooner than the current law.
The deal would cost Rhode Island governments $24 million next year, but it maintains nearly $4 billion in future savings from the 2011 law.
Gov. Lincoln Chafee and Treasurer Gina Raimondo (ray-MAHN'-doh) say the deal is fair to taxpayers and public employees and would prevent a costly and uncertain legal battle.
Read more Business News
- 22,000 still in the darkWest Kelowna
- Power outage pastimesWest Kelowna
- Students rally for classmateVernon / N. Okanagan
- Garage goes up in flamesCentral Okanagan
|QHR Technologies Inc||1.22||-0.04|
|Anavex Life Sciences||0.1804||-0.0036|
|Copper Mountain Mining||2.29||-0.13|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.31||-0.01|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...