Raimondo: ‘Catastrophic’ to lose pension case

PAWTUCKET, R.I. (AP) — General Treasurer Gina Raimondo says it would be catastrophic to Rhode Island to lose the legal challenge over the state’s pension overhaul but that she has a “high degree of confidence” the state will win.

Raimondo on Monday called it frustrating that police union members voted down the agreement. They were the smallest of six groups that had to approve it.

A judge ordered continued mediation but the talks broke down Friday. Raimondo said the mediation ended because the sides couldn’t find a way forward.

The proposed settlement agreement announced in February was an attempt to end the legal challenges brought by public-sector unions and retirees over the 2011 pension law.

Raimondo maintains the law will hold up in court. A trial is scheduled for September.

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