PROVIDENCE, R.I. (AP) — The architects of Rhode Island's pension overhaul plan said Friday their proposal won't reduce benefits that public workers have already earned, but stressed the need for a "one-time" comprehensive fix rather than piecemeal changes.
Gov. Lincoln Chafee and Treasurer Gina Raimondo sent a letter to state employees previewing the elements of an overhaul they are expected to present to the General Assembly for consideration during a special legislative session next month.
Even as they try to rein in the exploding cost of public pensions in Rhode Island, the two told state employees their proposal will not raise the retirement age for those already eligible to retire, nor will it propose incentives to retire. They said it will not reduce benefits already accrued by current employees and retirees.
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