Pensions are on the political agenda in nearly every state. The stock market downturn of 2008 and 2009 battered pension funds, exposed the true cost of benefit sweeteners awarded during the tech and housing booms, and left state officials searching for dollars to pour into pension funds. But in most states, reform has been a bust, with meaningful savings put off for years or decades. However, one small state was a big exception — Rhode Island. General Treasurer Gina Raimondo led Rhode Island to enact the boldest pension reform of any state in recent years. For this, she will receive the Manhattan Institute’s Urban Innovator award this week.

This award recognizes state and local officials whose innovative approaches improve the efficacy of government and the prosperity of cities. Past winners have included Michelle Rhee, Mitch Daniels, Jeb Bush and Anthony Williams. While we have usually honored mayors and governors, Raimondo will be the first down-ballot statewide official to receive the award, and for good reason.