State leaders may try again to reach agreement to settle Rhode Island's pension lawsuit

Associated Press

State leaders seem to be on a path to try again to reach a settlement in a lawsuit over Rhode Island's landmark pension overhaul, citing continuing fiscal uncertainty, legal costs and the near success of the last attempt.

Gov.-elect Gina Raimondo has called the proposed agreement that fell apart this year a "good deal" for Rhode Island. She said she'd love to see it back on the table, even though she maintains the state would prevail in court.

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Treasurer-elect Seth Magaziner also favors a negotiated settlement, and legislative leaders have indicated a willingness to ink one.

The 2011 pension law crafted by Raimondo and approved by the legislature is designed to save the state billions of dollars by reining in pension costs. Public-sector unions and retirees sued.