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| Benefits & Administration |
| R.I. Proposes New Settlement of Pension Reform Suit |
| The state of Rhode Island has made a new
proposal for a settlement of litigation brought by unions and retirees over
changes to state employee pension benefits. According to the Providence
Journal, the suggested terms of the settlement include two, one-time $500
stipends to current retirees; a once-every-four years increase in the pensions
paid to current retirees on their first $30,000 in retirement benefits; and a
tweak in the retirement age.Read more > |
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| Economic Events |
| The average interest rate for a 30-year
fixed-rate mortgage is 3.78%, down from 3.86% one week ago, according to
Freddie Mac. The average interest rate for a 15-year fixed rate mortgage is
3.06%, down from 3.10%.
THE
ECONOMIC WEEK AHEAD: Today,
the National Association of Realtors will report about existing home sales for
February. Tomorrow, the Bureau of
Labor Statistics will reveal the consumer price index (CPI) for February and
the Census Bureau will report about new home sales for February. Wednesday, we’ll see a report about
durable goods orders from the Census Bureau, and Thursday, the Labor Department will release its initial claims
report.
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