Target 12 Preview: Probing Pensions

PROVIDENCE, R.I. (WPRI) - A Target 12 Investigators exclusive all month long we are "probing pensions." Now more than ever it's critical to take a hard look at how taxpayer money is handed out.

Target 12 has compiled and combed through more than 44,000 names in a massive pension database. We uncover everything from workers collecting a tax-free disability pension, now working elsewhere to massive pension pay-outs that dwarfs even the governor's salary.

According to financial experts we talked to, Eyewitness News now houses one of the largest pension databases in the state and it's given us the ability to take a big-picture look at a system that’s draining your tax dollars.

On July 1st, the Target 12 Investigators hand-delivered public records requests to the state, Providence, Warwick, West Warwick, Pawtucket and Cranston. We wanted their list of retirees collecting a public pension.

All of the communities filled the request within a month, except West Warwick, which at first refused to tell us who was collecting a tax-free disability pension.

The request was eventually filled after reminding them of public records laws. We examined the data carefully and thoroughly. Our investigation actually took us all the way to Florida, to talk to a retiree collecting a disability pension.

Frederick Miller, receives disability pension and says "Must have been the way I was sitting in the car or whatever it was at the time. Knocked me right out."

Computer techs at Eyewitness News even wrote a program looking for so-called "double-dippers." All of this, to scrutinize how your tax dollars are being spent.

"There are three drivers in the cost of government local government and there is no question pensions is the leader of those three," says Mayor David Cicilline. Which is why Providence Mayor David Cicilline wants to merge with the state pension system.

But there are some alarming numbers to consider:

In 2003, taxpayers paid $149 million into the state pension system. In 2008, that figure more than doubled. This year, taxpayers forked over $376 million to keep pensions afloat.

Frank Karpinski runs the state retirement system and says tanking markets and demographics are causing the drain.

Frank Karpinski, the Ex. Dir. State Retirement System says, "Folks living longer, baby boomers coming through so you kind of have what the pension industry calls the perfect storm."

Tonight, we begin our series "Probing Pensions." We'll show you video from months of undercover surveillance video of retirees who are collecting a tax-free disability pension working physically demanding jobs.

It's a Target 12 Investigators exclusive on Eyewitness News at 11:00.