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Rhode Island Gov. Lincoln Chafee waves at the conclusion of his State of the State address in the House chambers of the Statehouse, Wednesday, Jan. 15, 2014 in Providence. (AP Photo/Steven Senne)

Feb. 15 (Bloomberg) — Rhode Island officials and union leaders said they reached a deal to settle challenges to public pension-overhaul laws aimed at strengthening one of the U.S.’s most underfunded retirement programs.

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