How much Rhode Island communities put in the pension fund
Updated: Nov. 15, 2011
Taxpayers in Rhode Island's cities and towns put a total of $152 million into the state pension fund this year to cover benefits for teachers, municipal workers, police officers and firefighters. That amount will jump to $262 million next year if nothing changes.
The proposed Raimondo-Chafee pension bill would reduce their contribution for next year to $160 million by suspending cost-of-living adjustments and raising the retirement age, among other changes. The figures below are based on the revised bill passed by the House and Senate finance committees on Nov. 10.
(These figures do not include the contributions made by those cities and towns that run one of the 36 separate individual pension plans that aren't part of the state system.)
Sources: Gabriel Roeder Smith & Co., treasurer's office, House Fiscal Advisory Staff, Senate Fiscal Office