WPRO News and the Associated Press
PROVIDENCE, R.I. (AP) – The governor and general treasurer say losing the billions in savings at stake in the court battle over the public pension overhaul would be devastating, and they’re actively working to settle the case.
Gov. Gina Raimondo and Treasurer Seth Magaziner said Wednesday they couldn’t discuss details of a proposed settlement because of a court confidentiality order. It was reported by The Providence Journal on Tuesday that retirees suing the state over the 2011 overhaul will vote on a potential settlement Monday.
The lawsuit challenges higher retirement ages and cuts to cost-of-living increases designed to save $4 billion over 20 years.
Public-sector unions and retirees are suing. The trial is scheduled to begin April 20.
Raimondo says the state is “working furiously” to prepare for trial, but also to settle.
