Hints and tips:
...After years of short-changing public pension funds, filling the pensions gap will be difficult, with state and local tax revenues amounting to only about $55bn....
...The sheer scale of Rhode Island’s fiscal crisis also focused voters’ minds, and the legal structure of the local pension system has given Raimondo scope to act (as my colleague Nicole Bullock has noted,...
...Changes enacted in Rhode Island, the state that has made the most aggressive push to revamp its ailing pension system, are expected to face a legal challenge soon....
...The initiative puts San Jose in the same camp as cities such as Providence in Rhode Island and Atlanta in Georgia, which have pushed for aggressive changes to their pensions systems....
...Rhode Island is a case in point. Yet, as a report from Dick Ravitch and Paul Volcker last month pointed out, the overall picture for local finances is dire....
...Central Falls, Rhode Island, did so this year. Retired employees there face potential cuts to pay-outs....
...The rating agency on Friday downgraded the Rhode Island city’s $20.8m of debt by one notch from B3 to Caa1, its fifth lowest rating....
...Mr Buckfire cites Illinois, California, New Jersey, New York, Connecticut, Massachusetts, Ohio and Rhode Island as among the most troubled states....
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