Statements about Retirement
"Providence has more of its pension fund invested in hedge funds and is less transparent" about it than the state.
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."
"If you and I fail to defund ObamaCare now, some 16,000 new IRS agents will be begin prying into our private medical records, eyeing each and every one of our treatments and prescriptions for "violations’."
Medicare insurance premiums will be rising to "$120.20 per month in 2013 and $247.00 per month in 2014."
"Over the past five years the federal government has paid out $601 million in retirement and disability benefits to deceased former federal employees."
"If you sell your house after 2012 you will pay a 3.8 percent sales tax on it."
"I think with the exception of the last year or maybe the last two years, we were at 100 percent" when it came to contributing to the Providence pension fund.
"If they made no changes whatsoever, the [state employees pension] plan still had enough money to go forward for approximately the next 16 years."
"The job [of correctional officer] lowers your life expectancy . . . Metropolitan did a study in, I believe it was 1998, and the life expectancy was 58."
"Sixty-percent of the state retirees...don’t get Social Security.’’
Rhode Island Treasurer Gina Raimondo "raised the mortality rate from 65 to 87" and "used a 1994 annuity chart" to create the pension crisis.
"If Rhode Island does a hybrid [retirement] plan we’ll be the first state in the nation to do this.’’
"This is the first time in our state, and one of the first times in the country, where benefit reductions . . . has happened to people who are retired."
"In the past six years alone, changes to the pension formula … have saved over half a billion dollars."
Thirty-seven percent of Central Falls’ retired police officers and firefighters are out on disability pensions; in most municipalities, about 5 percent of retirees collect disability pensions.
Statistically, law-enforcement officers die 10 years earlier than the general population.
"The average 401(k) in America of a person who's 60 years old is under $100,000."
Members of Congress "receive full pay retirement after serving one term."
When you compare our state pension system "to other systems throughout the country, our benefits are not gold-plated. They are not rich. They are actually average or below average."
In Rhode Island "there are 150 different pension plans for public workers."
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