cost of living adjustment

More than 1,600 retired state employees now have pensions over $100,000 per year, totaling an annual payout of $191.9 million, according to numbers provided by the State Comptroller’s Office. The 1,609 retirees receiving six-figure pensions represents an increase of more than 200 individuals since the previous count by the Hartford ...

The Rhode Island Supreme Court has upheld a Superior Court decision to allow the City of Cranston to cut cost of living adjustments for city retirees, citing the city’s dire fiscal problems. In 2011, Cranston faced a $256 million unfunded pension liability and the city’s pension system was only 16.9 ...