Lawmakers announce pension meetings

The Rhode Island House and Senate will gather for a rare joint meeting ahead of this fall’s special session on pension reform.

House Speaker Gordon Fox and Senate President Teresa Paiva Weed announced Wednesday that legislators will hold a pension briefing Sept. 6 at the Renaissance Providence Hotel.

The House and Senate budget committees plan to hold three Statehouse hearings later in the month on the pension problem and possible solutions.

Lawmakers plan to convene a special session in October devoted to reining in escalating public pension costs. Recent estimates put Rhode Island’s unfunded pension liability at nearly $7 billion – slightly less than the entire state budget for one year.

Paiva Weed predicts that lawmakers will have to make “difficult” decisions to keep the pension system viable.

Article source: http://www2.turnto10.com/news/2011/aug/24/lawmakers-announce-pension-meetings-ar-702960/

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