From yesterday's Wall Street Journal is this piece about RI State Treasurer Gina Raimondo who achieved the following changes to RI pension rules:
- Shifts all workers from defined-benefit pensions into hybrid plans, which include a modest annuity and a defined-contribution component;
- Increases the retirement age to 67 from 62 for all workers;
- Suspends cost-of-living adjustments for retirees until the pension system, which is only about 50% funded, reaches a more healthy state.

Ms. Raimondo is a Democrat, former venture capitalist, was a Rhodes Scholar at Oxford and has a bachelor's in economics from Harvard and law degree from Yale.

"A government that doesn't work is in no one's interest," she says. "Budgets that don't balance, public programs that aren't funded, pension funds that are running out of money, schools that aren't funded—How does that help anyone? I don't really care if you're a Republican or Democrat or you want to fight about the size of government. How about a government that just works? Put your tax dollar in and get a return out the other end."
 


Comments

MSteinel
05/03/2012 08:15

WoW!!!!! Common sense from a Democrate. Just goes to show you that if you just use your brain you will come to the correct answers regardless of your political affiliation.

Its really great that the retirement age has been increased by improving the pension system.

It will be really great if we will get proper returns of the Tax paid.

06/03/2013 04:51

"Budgets that don't balance, public programs that aren't funded, pension funds that are running out of money, schools that aren't funded—How does that help anyone? I don't really care if you're a Republican or Democrat or you want to fight about the size of government. How about a government that just works? Put your tax dollar in and get a return out the other end

06/19/2013 05:03

How does that help anyone? I don't really care if you're a Republican or Democrat or you want to fight about the size of government. How about a government that just works? Put your tax dollar in and get a return out the other end."

06/27/2013 23:37

How does that help anyone? I don't really care if you're a Republican or Democrat or you want to fight about the size of government. How about a government that just works? Put your tax dollar in and get a return out the other end."


Comments are closed.