The US Commerce Secretary's signature pension legislation in Rhode Island is receiving increasing backlash, along with her past Rhode Island track record as a whole. A special photobook edition
The RI Budget has increased approximately 85% since RIRSA2011 was passed! From $7.8 Billion to over $14 Billion! Think about that!
The Budget increase is roughly 3 times the CPI. (34% vs 87%!) What was the justification? Despite Gina Raimondo’s “Fiscal Crisis it has increased approximately three and half times the Pension Fund Shortfall! Two Billion at the time! Under Gina Raimondo, a CONTRACT was NOT really a CONTRACT if the State deemed it to be Politically Expedient!
When I hear that a 2% COLA will be restored in 2031 or a possible 3% COLA in 2034, I just shake my head. How many of believe that ALL of the Retirees will still be here in 2034?
The very idea that this is the State’s GOAL, i.e. wait until the Elderly Retirees pass on, is both Ethically and Morally Reprehensible! And after all, wasn't that the original plan?
The RI Budget has increased approximately 85% since RIRSA2011 was passed! From $7.8 Billion to over $14 Billion! Think about that!
The Budget increase is roughly 3 times the CPI. (34% vs 87%!) What was the justification? Despite Gina Raimondo’s “Fiscal Crisis it has increased approximately three and half times the Pension Fund Shortfall! Two Billion at the time! Under Gina Raimondo, a CONTRACT was NOT really a CONTRACT if the State deemed it to be Politically Expedient!
When I hear that a 2% COLA will be restored in 2031 or a possible 3% COLA in 2034, I just shake my head. How many of believe that ALL of the Retirees will still be here in 2034?
The very idea that this is the State’s GOAL, i.e. wait until the Elderly Retirees pass on, is both Ethically and Morally Reprehensible! And after all, wasn't that the original plan?