Chafee: Everything on Table for Pension Reform

Chafee: Everything on Table for Pension Reform

Governor Lincoln Chafee has expressed his desire to work collaboratively to address pension reform, saying all options are on the table.

In an official statement yesterday, the governor emphasized the gravity of the situation, stating: “Rhode Island must reform its pension systems because the failure to confront fiscal reality head-on could have serious implications for Rhode Island taxpayers as well as former, current and future public employees.”

He also cited numerous recent discussions he had had with General Treasurer Gina Raimondo, House Speaker Gordon Fox, and Senate President Teresa Pavia-Weed regarding pension reform, and the importance of including all parties in the reform discussion—including members of the union leadership.

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“I look forward to working with Treasurer Raimondo, Speaker Fox, Senate President Paiva-Weed and union leaders to achieve sustainable retirement security for public employees while implementing genuine reform that is affordable,” said Chafee. “Every aspect of pension reform—age, eligibility, COLA’s, contribution levels, freezes, re-amortization and benefit changes among others—must be on the table for candid discussion and reevaluation.”

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