A proposed settlement agreement has been reached on public employee pensions. Gov. Gina Raimondo says she’s pleased with the deal.
The settlement agreement resolves six of nine lawsuits against the state of Rhode Island over retirees’ pensions. It preserves most of the savings Raimondo won from an earlier pension overhaul. But it gives back some benefits to retirees. Now, says Raimondo, the state can begin to put the issue in the rear view mirror.
“The proposed settlement agreement is an important step toward providing certainty for our public employees and our cities and towns," said Raimondo. "And I believe is in the best interest of all Rhode Islanders, now and to secure our future.”
About 800 Cranston police and firefighters, and members of a municipal police officers’ union, declined to join the settlement. Their lawsuits are still pending against the state.