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Report of the advisory council on locally administered pension plans

MAY 8, 2018 | by Rhode Island General Treasurer | RHODE ISLAND GENERAL TREASURER

Includes “… a few positive takeaways emerge … Municipalities have improved responsiveness to council data requests … Most municipalities met or exceeded their required ARC payments over the past 4 years … Despite these steps forward, significant challenges remain … The 34 local plans reviewed carry a combined unfunded liability of over $2.4 billion, and over a third of plans are less than 60% funded, and therefore considered to be in critical status. … Many plans have investment return and payroll growth assumptions that may not be realistic.” 
 

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