PROVIDENCE, R.I. (AP) — Rhode Island lawmakers are mulling changes big and small to a public pension overhaul proposal after hearing from hundreds of Rhode Islanders during 30 hours of hearings on the legislation.
Lawmakers working on the proposal said it could be weeks before the General Assembly votes on the legislation. First, they said, they'll carefully weigh amendments to the complicated bill.
Most will be technical, designed to make minute adjustments to arcane pension details. But some lawmakers also want to look at bigger changes that could change the bill and determine the outcome of the state's efforts to rein in mounting pension costs.
The legislation from Gov. Lincoln Chafee and Treasurer Gina Raimondo aims to save the state billions of dollars in future years by suspending automatic annual pension increases for many workers, raising retirement ages and creating a hybrid system combining traditional pensions with 401(k)-style accounts.
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