$2 billion worth of assumptions
Seth Magaziner "plans to spend billions more of your money."
He offered the warnings as Auditor General
"I was speaking out on pension reform almost 17 years ago."
But benchmarks vary
Rhode Island's state pension system "underperformed the median three out of the four years that Mr. [Frank] Caprio was in office."
Take it to the bank -- if you have one
"In Rhode Island today, 25 percent of our households either don't have a bank account at all, or they have a bank account and they're still relying on high-cost financial services like payday loans, pawn shop check cashing and so on."
Facts fuzzy on fund fees
Since Gina Raimondo took office, investment fees on the state's pension portfolio "have gone up from about $12 million annually to about $50 million."
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