Wednesday, May 7, 2014

Recap of RI Pension Crisis Fnuding Improvement Plans & fun quotes

 More fun Quotes from Joe Polisena

" Mr Almonte when you worked for 2 speakers making your 100+ thousand in your state vehicle, you really never brought to light anybody's pension issues. So your silence was deafening."

Joe Polisena
4-28-14 Pension study commission

" Now Johnston is obviously in decent shape"  Joe Polisena April 28 2014




Funding Improvement Status Report from Pension Commission 4-28-14



Rhode Island Town
Date FIP originally
Submitted
Implemented?
As of 4/28/2014
Estimated year  town will emerge from critical status
Bristol
November 2012
Yes
fully implemented
2021
Coventry Muni
August 2012
Partially implemented
 closed DB plans to new hires
2033
Coventry Police
March 2013

NO
Not meeting
 In Arbitration
2036 or later
Coventry School
November  2012
Never even approved
No Implementation
Dispute between town & School :Fact finder being Hired
No Idea
Cumberland police
March 2013
No response at all
?
East Providence
Exempt
GOOGLE

Cranston
April 2013

Yes partially
2032
Johnston  Police
January 2013
No
No progress made
?
Johnston fire
January
2013
No Implementation
 No update on  progress made
?
Jamestown
exempt


Lincoln
exempt


Little Compton
exempt


Middletown
exempt


Rhode Island Town
Date FIP originally
Submitted
Implemented?
As of 4/28/2014
Estimated year  town will emerge from critical status
Narragansett
Town plan police and fire
July 2013
Partial
Did not receive savings that they anticipated
2018 or worse
Newport
October 2012
Implemented
2023 fire
2016 police
North Providence
April 2013


Pawtucket
March 2013
Police arbitration and negotiating
Fire in agreement
2023
Portsmouth
October 2012
Partial
Lowered ROR to 6.75%
2019

Providence
November 2012
Partially implemented
8.25% ror
2034
Scituate
November 2012
Not implemented
In arbitration
? 2031 or later
Smithfield police
January 2013
Fully implemented
2026
Tiverton Police
March 2013
Implemented 
Successfully closed amortization period
2016
Warwick
March 2013
Fully implemented
2032
West Warwick
December 2012
Revised plan April 2014
Not implemented
2032
Westerly
exempt


Woonsocket
June 2013
Not implemented
Closed plan being negotiated with retiree’s
Under budget commission
2019



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