PROVIDENCE, R.I. (AP) - The state and most plaintiffs in the legal fight over the state’s 2011 landmark public pension system overhaul are asking the court to approve a settlement.
The parties filed a joint motion Monday in Superior Court seeking preliminary approval of a proposed class action settlement.
The motion says the settlement is fair, reasonable and adequate to resolve the claims, while avoiding the expense and risks of a trial.
It says the terms will lessen the impact of the changes on public employees, while allowing the state and municipalities to create a more sustainable retirement system.
The plaintiffs challenged higher retirement ages and cuts to cost-of-living increases.
Unions representing municipal police, Cranston police and Cranston firefighters, which collectively represent about 800 people, rejected the settlement and aren’t included in the motion.
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