In 1998, Reform Party candidate Victor Moffitt campaigned for state treasurer on a platform that included eliminating the state income tax on military pensions.
Said Moffitt in 1998: “That’s a small amount to pay to the people who risked their lives to preserve our freedom and democracy.”
This history frustrates Vasquez-Hellner because Rhode Island is one of only four states that does not have a specific exemption for veteran pensions. (The first $15,000 of all pensions, regardless of source, are tax-exempt.)
Supporters argue the change is a long-overdue step to counter the impression that Rhode Island does not treat its veterans as well as other states, such as Massachusetts and Connecticut. Both fully exempt veteran pensions from state income tax.
Author(s): Frank Lennon
Publication Date: 7 Feb 2022
Publication Site: Providence Journal
Governor Dan McKee on Tuesday weighed in on two critical issues facing Providence: shakeups in contract negotiations with the teachers union and Mayor Jorge Elorza’s plan for a pension obligation bond to throw the city a financial lifeline.
On Elorza’s idea for a $704-million pension obligation bond to address the city’s unfunded pension liability, McKee raised skepticism, suggesting the plan is risky and that the timing isn’t right.
“I think it’s rolling the dice,” he said. “And again, I’ll reflect back to the time I was a mayor. I made sure that there was actuaries that supported any decision made in our local pensions including the police pension. I haven’t seen any actuaries that I would rely on. I’m not sure there’s time right now between now and the end of session to do that in a way that I would feel comfortable with.”
Author(s): Amy Russo
Publication Date: 1 June 2021
Publication Site: The Providence Journal