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Monday, August 31, 2015

Change.org petition

Posted by Lou on August 2, 2015

Brothers and sisters,

Please take a moment to read and sign the Change.org petition to prod the SEC to investigate the investments in our pension fund the link is:

https://www.change.org/p/u-s-securities-and-exchange-commission-investigate-potential-violations-of-the-rhode-island-8-billion-state-pension-fund

Please share this link with your family and friends, too. This issue should be of concern to all Rhode Island taxpayers.

Thanks!

Summer Outing

Posted by Lou on July 8, 2015

Brothers and sisters,

In case you haven’t heard, the announcement for the 2015 Summer Outing was recently released. We’re going back to an old stomping ground: Yawgoo Bakes! The date of the party is Friday, July 31, and the festivities start at 1pm. Lunch and dinner will be served, and music will be played by Bob Schmidt. All Local 2881 members will be granted 2 hours of Administrative Leave to attend the outing (i.e., if you use 2 hours of Administrative Leave, you must attend the outing).

See the flyer here.

Interesting articles related to pension funds

Posted by Lou on June 28, 2015

There have been some interesting articles regarding pension funds over the last few weeks. Take a look and tell us what you think in the comments below! Or better yet, share some of your favorite articles with your union brothers and sisters!

International Business Times: For Rhode Island Taxpayers, Alternative Investments Have High Cost

Wall Street Journal: Rhode Island’s $2 Billion in ‘Preventable Losses’ in Alternative Assets

New York Times: When Private Investment Firms Give Retirees the Short End

Go Local Prov: INVESTIGATION: Investment Firms Not Sharing Vendor Discounts with RI Pension Fund

Don’t forget to read the investigation into our pension fund performed by Benchmark Financial Services and submit a complaint to the SEC requesting an investigation into potential violations.

June updates

Posted by Lou on June 17, 2015

Hello brothers and sisters,

It’s almost summer, and we have a couple of updates for you.

1) The 2015 Local 2881 Scholarship program is kicking off. Flyers should be arriving at your house shortly. If you do not receive one, you can download it here. if you have any questions, contact Lou Maccarone.

2) We will be having a general membership meeting next Wednesday, June 24 at 4:20pm in the 3rd floor cafeteria of 235 Promenade Street. Items on the agenda include the Ted Siedle pension report, the scholarship program and the summer outing.

Thanks,
Local 2881 Executive Board

Ted Siedle’s pension fund investigation

Posted by Lou on June 7, 2015

Brother’s and sisters,

Ted Siedle’s investigation into the Rhode Island State Employees’ pension fund has been completed and published. Please take the time to read the document and send it to other interested parties, as well as you state Senator and Representative.

Thanks,
Local 2881 Executive Board

Pension legislative hearing

Posted by Lou on June 1, 2015

Brothers and Sisters,

You may have heard that the Senate Finance Committee held a hearing on proposed pension settlement legislation yesterday. I think we were just as blindsided by that as you were. But we now know that there will be a House Finance Committee hearing on the same topic on Wednesday afternoon (the Rise of the House is generally 4pm or sometime soon thereafter). If you would like to go and give testimony regarding your opinions and any pertinent facts related to the pension, please do so. The hearing announcement is: http://status.rilin.state.ri.us/documents/agenda-11301.aspx.

Thanks!
Local 2881 Executive Board.

Pension Fund Investigation

Posted by Lou on April 29, 2015

Brothers and Sisters,

Today is the last day to donate to Ted Siedle’s crowdfunding of an investigation into the pension fund. Although it has just reached fully funded, Kickstarter takes 10% of the total amount raised. I’ve spent significant time talking to Mr. Siedle over the last 2 days, and he seems like a good and decent person who really wants to help Rhode Islanders get to the bottom of why there are such significant issues with our pension fund. So please, if you are able, donate whatever you can afford to this investigation before 5pm today!

Thanks!

General Membership Meeting

Posted by Lou on April 22, 2015

Hello all,

Apologies for the short notice, but we will be having a General Membership meeting on Monday, April 27 at 4:20pm in the 3rd floor cafeteria of 235 Promenade Street in Providence. Please make every effort to attend. The agenda includes a legislative update from Jim Cenerini, a discussion of Ted Siedle’s pension investigation crowdfunding effort, and an update about the pension settlement.

Thanks!