Rhode Island Plan Proposes New Approach to States' Pension Woes

Faced with rising pension costs, Rhode Island is contemplating reforms to its public sector retirement system that go further than what any other state is currently considering. The proposed plan would be unprecedented, both in terms of the employees it would affect and the scope and scale of changes to their benefits. Advocates of the plan claim it is needed to curb expanding costs that, left unaddressed, could have severe impacts on state finances and taxpayers. Opponents, including unions, claim the measures go too far and put workers' retirement security at risk.