Trillo Says He Would Restore COLAs, Appoint Siedle Special Counsel if Elected RI Governor
Friday, October 19, 2018
"[Raimondo's pension reform] was to recklessly invest pensions into high risk funds that cost the state hundreds of millions of dollars in fees. The result was she suspended COLAs (cost of living adjustments), lost $500,000,000 from pension accounts, and damaged the financial stability of thousands of people," said Trillo. "She cost thousands of hardworking Rhode Islanders their peace of mind and gave them uncertain financial futures, all so she could get campaign contributions and advance her own career.”
“Today I am announcing my first official executive order when I take office in January. This executive order will have two major objectives. First, it will award a 3% COLA for all pensioners (on the first $20,000 of income). Secondly, it will appoint Ed “Ted” Siedle as special counsel to the Governor," said Trillo. "He will have full authority to continue his investigation he started in 2013 and get to the bottom of Gina Raimondo’s wrongdoing."
Rhode Island pension critic Siedle, who wrote "Rhode Island Pension Reform: Wall Street's License to Steal" in 2013 -- and is now the biggest whistelblower in SEC history -- said he would "work with anyone" willing to investigate the state's pension system when reached on Friday.
"I'll do an investigation for whoever wants it -- the taxpayers and participants deserve it," said Siedle. "My ties are to the taxpayers and participants."
"A forensic investigation is long overdue, and I'll work with whoever whats to do one," said Siedle.
In a recent poll conducted by John Della Volpe and GoLocalProv, the following question was asked:
If the election for Governor were held today and the candidates were: Democrat Gina Raimondo, Republican Allan Fung and Independent Joe Trillo, for whom would you vote?
Gina Raimondo, a Democrat: 40%
Allan Fung, a Republican: 32%
Joe Trillo, an Independent: 17%
Don't know: 11%
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