Wednesday, November 14, 2012
Council members voted 4-1 to meet state deadline to begin the long process.
Coventry Town Council members voted 4-1, for a strategy that would substantially reduce over many years the estimated $70 million of underfunded liability on pensions for municipal employees and police union at the Town Hall Annex on Tuesday Only Ted Jendzejec (District 5), voted against the measure, saying “I am not comfortable with this plan. This is one of the most important decisions regarding our town. I can’t see this falling into place. It’s not carved in stone. We need more discussion among the taxpayers, collective bargaining units and town council.” "It's not pension reform that I am against," continued Jenzejec following the meeting. "It's the hike in taxes that this plan could have that I'm against. I believe more open …
Monday, January 9, 2012
Find out what your neighbors across the state are talking about, and add to the conversation in the comment stream.
Coventry: "The reality is that the taxpayer cannot substain much further into the future and the only way we can have a future is with good, responsible fiscal planning. I hope you can be successful. At the end of the day, what we have going for us in Coventry is a very competent Town Manager and a person that I think you will be able to collectively work out a plan with. good luck Senator Kettle." — Brian "The majority of RI politicos have sold their souls to the unions for votes and donations which give them political power over jobs and contracts, and the majority of those political prostitutes are Dems not withstanding the man Kettle beat for that seat." — coventry voter, both commenting on Op-Ed: Municipal Pension Reform is the Next …
Wednesday, January 4, 2012
By Senator Nick Kettle
Wednesday, January 4, 2012
An historic, yet ironic and tragic, vote occurred this past November with the passage of the pension reform bill; Historic because it put our state on a path towards fiscal stability; Ironic because some of the very same crooked politicians in leadership at the General Assembly, whose malfeasance and inattention helped create this crisis in the first place, are now being hailed as heroes; and, Tragic because those who ultimately got hurt are state and local employees who were promised a certain pension package and faithfully paid into the system while double-dealing politicians played with their money, betrayed their trust and jeopardized their futures. In the end, we members of the General Assembly, when presented with the ugly but …
Thursday, November 10, 2011
The House and Senate finance committees pass the reform plan proposed by Gov. Lincoln Chafee and General Treasurer Gina Raimondo.
- On wpri.com
Thursday, November 10, 2011
Decides against Energy-Efficiency Project
The Coventry School Committee voted, 3-0, to approve a resolution on upcoming pension reform by the Rhode Island General Assembly. The committee had tabled the matter last meeting. The School Committee Resolution on pension reform, similar to those already adopted by several other municipalities reads in part: “Rhode Island’s state and employee and teacher retirement system is underfunded by $6 billion, employer share of retirement costs will increase to 20% of payroll in FY 2013, or 60% over the FY 2012 contribution and FY 2013 retirement costs will force over half of Rhode Island’s communities to exceed the property tax cap…” “It is our responsibility to pass a resolution,” said District 4 Committee member, Nancy Sprengelmeyer. “One of …
Tuesday, November 1, 2011
The state General Treasurer addressed the joint House and Senate Finance Committees Tuesday evening.
The pension reform plan will "solve the problem once and for all," ending decades of unfunded pension plans leading up to the current crisis, according to General Treasurer Gina Raimondo. The treasurer defended the plan she and Gov. Lincoln Chafee crafted before the joint House and Senate Finance Committees Tuesday evening. She told the legislators she and her staff spent countless hours vetting the legislation and poring over the state's historic pension numbers to come to a bill she said saves Rhode Islanders billions of dollars, provides security for retirees, and ensures the pension system will never reach crisis level again. "The system we have proposed is fair," Raimondo said. "This bill will solve the problem once and for all. If we…
The mayors of Cranston and Providence asked the Legislature to amend the pension reform to prevent bankrupting municipalities.
When considering whether to move to a city or town, potential residents most often look at the quality of the school system as the key determinant. An educated buyer, according to state Auditor General Ernest Almonte, will add another criteria: the unfunded liability. While the state is certainly facing a pension crisis that threatens to derail its economy, cities and towns are looking at an even worse problem, Almonte told the joint House and Senate Finance Committees as hearings on the pension reform proposed by Gov. Lincoln Chafee and General Treasurer Gina Raimondo continued Tuesday. Municipal employees and retirees who are not part of the state Municipal Employee Retirement System face an even larger unfunded liability than those who …
Thursday, October 27, 2011
Paul Valletta Jr., president of Cranston Fire Fighters Local 1363, accused Treasurer Gina Raimondo with "cooking the books" to push through pension reform.
The head of the Cranston Firefighter's union accused General Treasurer Gina Raimondo of “cooking the books,” lying to the General Assembly in an attempt to push through pension reform. Paul Valletta, President of the Cranston Fire Fighters Local 1363, who was introduced as representing the Rhode Island Association of Firefighters, said Raimondo created an artificial crisis where there is none in the pension system in order to convince legislators and residents that “draconian” changes were needed in the state pension system. “The General Treasurer cooked the books on this issue,” Valletta told the joint House and Senate Finance Committees Thursday. “This is not a crisis; it’s a problem. She created the pension problem and dropped it in …