Value of defined benefit pensions provided by the Employees' Retirement System of Rhode Island before and after four rounds of cuts since 2005 (2005=100)
|Before cuts||After 2005–2010 cuts||After RIRSA, with COLA||After RIRSA, suspended COLA|
|10 years of service at age 62||100||78||44||39|
|20 years of service at age 62||100||73||39||35|
|30 years of service at age 62||100||77||33||30|
Note: Defined contribution benefit not shown.
Source: Author’s analysis of ERSRI actuarial valuations (GRS 2006, 2011c, 2012) and Bell and Miller (2005)
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