Rhode Island judge approves settlement on pension overhaul
Source: AP
By JENNIFER McDERMOTT
PROVIDENCE, R.I. (AP) — A proposed settlement to resolve years of legal wrangling over Rhode Island's landmark public pension system overhaul was approved Tuesday by a judge who called it an imperfect but fair solution.
Superior Court Judge Sarah Taft-Carter overruled objections to the settlement, putting an end to nearly all the lawsuits by public-sector unions and retirees against the state over the 2011 reform, which was designed to save the state $4 billion over 20 years. The deal would preserve about 90 percent of the savings.
"The 2015 settlement agreement is not being offered as a perfect solution, nor is perfection required of it under the law," Taft-Carter wrote.
Lawmakers must also approve the settlement.
FULL story at link. NJ workers got hit today too: http://www.democraticunderground.com/10141113512
Read more: http://bigstory.ap.org/article/93bce745b8e34956a2982261b0b2679d/rhode-island-judge-approves-proposed-pension-settlement
