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Providence’s pension plan in ‘critical’ status

MAY 1, 2019 | GOLOCALPROV (RHODE ISLAND)

The majority of municipal plans across the state are also designated as critically underfunded, a total of twenty other municipal pension plans. Critical funding status is defined by Rhode Island General Treasurer Seth Magaziner as pension funds that are forty percent underfunded. The Providence pension plan is only funded at 26.3 percent.

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