Policy: Budgets & Deficits

State, unions to give Rhode Island pension settlement update

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Associated Press,Rhode Island,Entitlements,Budgets and Deficits,Pensions

PROVIDENCE, R.I. — Rhode Islanders may soon find out whether there's a deal to end the legal challenge to the state's 2011 pension overhaul.

Representatives from both sides of the lawsuit are scheduled to report on efforts to reach a settlement in the case Friday afternoon.

The details of a proposed settlement were set to be released Wednesday before the news conference was abruptly cancelled. Top lawmakers were briefed on the possible deal Monday but have declined to offer specifics.

Public- sector unions and retirees are challenging the pension law, which was designed to save billions of dollars by raising retirement ages and suspending pension increases. The litigation has been in closed-door mediation for more than a year.

Any settlement in the case would have to be approved by lawmakers.

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