Public workers, retirees oppose RI pension revamp

Public workers, retirees oppose RI pension revamp

PROVIDENCE, R.I. (AP) — Rhode Island public workers and retirees are urging lawmakers to slow down their deliberations over a major public pension overhaul proposal by Gov. Lincoln Chafee’s administration.

Philip Keefe, president of a social service union, told lawmakers at a hearing today that the proposal treats lower-paid workers as “serfs.”

Chafee is calling for a new system that combines 401(k)-style accounts with traditional pensions. The plan would halt cost-of-living pension increases for most retirees and raise retirement ages.

Public sector unions have scheduled a Statehouse protest Wednesday afternoon. A business-backed group supporting the proposal plans its own rally.

Chafee and state Treasurer Gina Raimondo say the legislation will save billions and protect future retirement benefits. Public unions call the plan unfair and vow to sue if lawmakers adopt it.