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Rhode Island Pension Changes Force Educators to Pay for Corporate Greed

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photos and video courtesy of NEA-RI

On Thursday, November 17, the Rhode Island legislature passed sweeping changes to the state’s pension system that will force educators and state workers to pay for corporate greed. This legislation will move many worker’s retirement savings to a 401(k)-type account, increase retirement ages, and freeze cost of living increases for already-retired workers, even as these workers continue to pay their obligations to the system. Although no official announcement has been made, NEA Rhode Island and members of the Rhode Island Retirement Security Coalition are expected to file a legal challenge to the legislation. NEA Rhode Island President Larry Purtill issued the following statement through the NEA RI website:

The pension vote last night (11-17) was very disturbing on several fronts. I want you to understand the immediate reaction we have to all this. First, I know the questions are coming fast and furious and we will try to answer all of them. We are working on written responses to the most frequently asked questions and regional vice presidents will be setting up meetings for two purposes – first, to explain where we go from here and second, to give details on the bill and explain the ramifications.

NEARI, along with the other unions in our coalition, will respond legislatively, politically and legally.

Rally at the Statehouse November 8, 2011

For information on how you can get involved in the fight for retirement security in Rhode Island, visit NEA-RI or sign-up for updates from the Rhode Island Retirement Security Coalition.

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