PROVIDENCE, R.I. (AP) — In five years, the cost to taxpayers for Rhode Island's public retirement system will more than double if nothing is done to curb runaway pension costs.
That was one of several sobering facts that legislative aides presented to state lawmakers Wednesday as they began to work on overhauling the state's public retirement system. Next month the General Assembly plans to convene a special legislative session devoted to pensions.
For lawmakers, solving the complex pension puzzle raises legal, financial and political problems. Public-sector unions and taxpayer watchdog groups are watching the debate closely. The outcome is likely to touch off legal challenges and affect the state's financial health for years to come.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
