Statements about Pensions
Says Gov. Scott Walker is "openly" backing a move to abolish the state retirement system and convert it to a 401(k)-style plan that will reduce pensions "by at least a third" for current and retired public employees
Gov. McDonnell's proposed budget "is cutting" public education.
Says proposal to boost teacher pension fund "puts no mandate on local government."
Says he’s proposed "the largest employer contribution to the Virginia Retirement System in history."
"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.
"Eighty-five percent . . . of Rhode Island tax returns that were filed for the year 2010 . . . were from individuals who earned $30,000 or less."
"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."
"No other public or private business in America" except for the U.S. Postal Service must fund 100 percent of employee retirement and retirement health costs in advance.
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.’’
"The State of Rhode Island has the worst state-funded pension in the country."
Says judges "get better benefits at a lower cost than everybody else in the state."
"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."
"My son had to resign his job because of federal regulations that Washington has put on us."
Says Vince Polistina is "collecting nearly $70,000 in taxpayer-funded salaries -- plus a government pension."
The law has not established whether Rhode Island public employees have property rights to their pensions.
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