09/13/2011 - Fixing the state's public pension funding crisis will take a major overhaul, and everyone should expect to have to make sacrifices along the way, the speaker of the state House said.
Speaker Gordon Fox said Tuesday after an informational briefing on pensions for the General Assembly that the state is facing a "mindboggling" crisis and called reform of the system, the subject of a special legislative session scheduled for October, a "Herculean task."
Among the experts called by Fox and Senate President Teresa Paiva Weed was Kil Huh, research director of the nonprofit Pew Center on the States. Huh offered a look at the national pension funding situation, saying that states, including Rhode Island, are drowning under the weight of unfunded pension liabilities.
To read the article Rhode Island Lawmakers Hear Pension Reform Options in its entirety visit the Boston.com Web site.