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Archive - Oct 16, 2011 - News Article

Pension bill to be heard Tuesday

October 16, 2011

PROVIDENCE — The much-anticipated pension reform bill will be presented to a joint session of the General Assembly tomorrow.
Early reports of the plan to be presented by Gov. Lincoln Chafee and General Treasurer Gina Raimondo indicate that it will include shifting state employees and teachers from the defined benefit plan they have now to a “hybrid” scheme that has components of both a defined benefit and a 401(k)-type defined contribution plan. This would affect contributions as well as benefits.

 

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