PROVIDENCE, R.I. (AP) — An investment forum on the financial problems facing America's cities delivered a glimpse Monday of what Rhode Islanders could expect from a potential match-up between Gov. Lincoln Chafee and Treasurer Gina Raimondo in next year's gubernatorial race.

The independent governor and Democratic treasurer both delivered remarks to the more than 250 bond investment professionals attending a symposium in Providence on deficits and pension costs.

With firefighters protesting her appearance outside, Raimondo detailed the sweeping pension changes she crafted two years ago that saved the state billions by cutting benefits to many public workers and retirees. Public-sector unions and retirees are challenging the changes in court, saying they amount to an unfair breach of contract.

"We were sending out the door hundreds of millions of dollars more than we were taking in; we had a crisis," she told the audience. "This is not a partisan issue. This was never about Republican versus Democrat, union versus management."

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.