Treasurer Shares Unfunded Pension Liability Numbers

(Providence, RI)--Locally-run pension plans in Rhode Island are carrying a two-and-a-half-billion-dollar unfunded liability, according to a new report from state Treasurer Seth Magaziner.The report indicates that is the combined number for the 35 locally-administered plans.Magaziner says more than half of those plans are in critical status, and compared that to just four of 118 state-run pension plans that are critical.The report indicates the city of Providence leads the way with a one-point-three-billion-dollar liability.


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