Thursday, September 3rd9.5°C
26774
26015

Mediation in Rhode Island pension lawsuits fails; challenge of landmark overhaul moves forward

PROVIDENCE, R.I. - Talks to salvage a proposed settlement that would end the legal fight over Rhode Island's 2011 landmark pension overhaul have failed, and the court challenge is moving ahead.

Gov. Lincoln Chafee and General Treasurer Gina Raimondo on Friday announced the settlement agreement failed and mediation ended "due to a small group of union members." They called it "disappointing and frustrating."

The plaintiffs issued a statement saying the state ended the mediation. Chafee's spokeswoman would not comment.

The law was designed to save the state billions, but public-sector unions and retirees sued.

A proposed settlement was announced in February, but police union members, the smallest of the six groups that had to approve the proposal, rejected it. The judge then ordered continued mediation.

The Canadian Press


Read more Business News

27504


Recent Trending




Today's Market
S&P TSX13702.89+157.64
S&P CDNX554.48+4.43
DJIA16530.23+178.85
Nasdaq4795.52+45.54
S&P 5001972.65+23.79
CDN Dollar0.7587+0.005
Gold1123.80-8.70
Oil47.80+1.55
Lumber234.70+0.70
Natural Gas2.668+0.020

 
Okanagan Companies
Pacific Safety0.20-0.02
Knighthawk0.010.00
QHR Technologies Inc1.21+0.02
Cantex0.04-0.01
Anavex Life Sciences1.14-0.11
Metalex Ventures0.05-0.00
Russel Metals21.55+0.68
Copper Mountain Mining0.66+0.05
Colorado Resources0.075-0.010
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp2.40-0.22

 





FEATURED Property
21811562340 Bering Road
10091943 bedrooms
$995,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Where does the money go?

Photo: Thinkstock.comOne of the major components of business relationships that involve money are the fees in the investment industry. There is currently a quiet battle being waged between the practit...


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...

_



26376

26376


Member of BC Press Council


27373