Daily
the Brown
vol. cxlvi, no. 95
Herald
Thursday, October 27, 2011
Since 1891
Marathon hearing addresses pensions Hundreds turn out to weigh in on reform By Kate Nussenbaum Contributing Writer
More than 150 state employees, teachers and municipal employees addressed lawmakers at the first of three public hearings of the joint
city & state Rhode Island House and Senate Finance Committees on pension reform legislation Wednesday. The hearing, which lasted nearly 11 hours, concluded around 10 p.m. The Rhode Island Security Act of 2011, proposed by Gov. Lincoln Chafee ’75 P’14 and General Treasurer Gina Raimondo, would
dramatically alter public sector employees’ pensions to reduce the current $9.4 billion shortfall in state and municipal pension systems. The bill’s supporters say it is necessary to avoid sharp tax increases and budget cuts to statefunded programs. The bill would freeze cost-ofliving-adjustments for 12 or 19 years depending on the value of a pension and raise the retirement age from 62 to 67. It also would change the state-run system to a new hybrid pension plan, giving retirees both a small, guaranteed benefit and an individual invest-
Dan Jeon / Herald
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Some critics of the Chafee-Raimondo bill argue it limits retiree buying power and disproportionally burdens female public employees.
Pension reform draws competing rallies By Dan Jeon Staff Writer
With a new pension reform bill now under consideration in the General Assembly, competing groups converged on the State House rotunda Wednesday to make their voices heard.
city & state The public employee union opposing the bill — Council 94 of the American Federation of State, County and Municipal Employees — and EngageRI, an advocacy
group backing the legislation, held back-to-back rallies. Gov. Lincoln Chafee ’75 P’14 and General Treasurer Gina Raimondo spoke at the EngageRI rally. Current Rhode Island staterun and municipal pension plans have a combined shortfall of about $9.4 billion. As the joint House and Senate Finance Committees reached the end of the first of three hearings on the legislation yesterday, Rhode Island Council 94 rallied in opposition to the bill. The union is denouncing the new proposal because it will “eliminate
the retirement security of tens of thousands of Rhode Island working men and women,” according to the union’s press release issued yesterday. “It’s unfair to everyone,” Rhode Island Council 94’s State Vice President Lynn Loveday told The Herald. “The retirees take a certain hit, and (the state government) is asking people at the worst time in history to take a risk,” she said. Loveday added that she represents over 4,000 state workers, all opposed to pension reform. The proposed legislation, the
Rhode Island Retirement Security Act of 2011, would freeze costof-living-adjustments and reduce guaranteed benefits paid to pensioners by placing state workers in a new hybrid plan. The plan would combine a reduced defined contribution payment — a defined benefit account similar to a 401(k) — and regular Social Security payments. All state employees, teachers and municipal employees excluding police and fire departments would be enrolled in the plan, which will also continued on page 3
Ne ws in brief
Housing lottery may face overhaul The Residential Council is considering overhauling the housing lottery process and will be holding three forums to discuss possible changes with the student body. At the forums, ResCouncil will also seek feedback on the possibility of extending gender-neutral housing to first-year students, said ResCouncil’s policy committee member Maggie Tennis ’14. The board will also discuss modeling a new system off peer universities’ housing processes, Tennis said. Unlike Brown, other schools do not usually allow students to pick their exact rooms, a privilege Brown students may not want to give up, Tennis said. ResCouncil is also considering moving the lottery process online, but ResCouncil Chair Sam Barney ’12 said such a shift could present “catastrophic problems” if the system crashed. Tennis said the forums are a step toward increasing the board’s presence on campus. Students may not know they can contact the board directly with housing concerns as an alternative to contacting the Office of Residential Life, she said. Two panels aimed at rising sophomores will be held Nov. 6 and 10, and a third geared toward upperclassmen will be held Nov. 8, Tennis said. ResCouncil is still determining the locations for the forums. Barney said ResCouncil is also organizing a survey to gauge student opinion about the lottery process and suggestions for the new housing lottery. — Caitlin Trujillo
A more learned occupation UCS votes for $72 Professors support activities fee hike Occupy movement by teaching, speaking, signing
By Katrina Phillips Senior Staff Writer
When Professor of Economics Glenn Loury first heard about
Rachel Kaplan / Herald
Over 130 faculty members have pledged support for the Occupy movement.
inside
Occupy Wall Street, he was not surprised. In fact, he was amused.
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“The first thing I thought was, ‘See, I told you so,’” Loury said. In an August conversation for video discussion blog Blog-
Post-
misses Prospect & Meeting, goes to dinner with zombies Post-, inside
gingheads.tv, Loury predicted the Occupy protests when he said he continued on page 2
The Undergraduate Council of Students approved a resolution calling for a $72 increase to next year’s student activities fee at its general body meeting last night. UCS originally suggested a $22 increase, but Jason Lee ’12, chair of the Undergraduate Finance Board, made an impassioned plea for a larger increase. The resolution calls for raising the total fee to $250. Student Activities Chair Mae Cadao ’13, a Herald senior finance associate and sponsor of the resolution, said Margaret Klawunn,
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By Margaret nickens Contributing Writer
vice president for campus life and student services, had expressed support for an increase. Cadao said she hopes Klawunn will advocate the increase in her upcoming discussions with the University Resources Committee. She said Klawunn encouraged her not to “lowball” the increase. In the past, the URC has often approved much smaller fee increases, so the council determined it would be preferable to ask for more money. Students at Brown pay far more in student activities fees than their counterparts at wealthier institucontinued on page 4
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