Sen. Louis P. DiPalma and Sen. John J. Tassoni Jr. have been named to a special Senate commission that will study municipal pensions and report its findings to the Senate by the conclusion of the 2010 legislative session.

DiPalma (D-Dist. 12, Middletown, Little Compton, Newport, Tiverton) and Tassoni (D-Dist. 22, Smithfield, North Smithfield) will serve on the commission along with Senate Majority Leader Daniel P. Connors (D-Dist. 19, Cumberland, Lincoln), Senate Minority Leader Dennis L. Algiere (R-Dist. 38, Westerly, Charlestown) and Sen. Daniel Da Ponte (D-Dist. 14, East Providence, Pawtucket), who chairs the Senate Committee on Finance.

The study commission was created by legislation (2009-S 1048) approved during the 2009 session of the General Assembly, sponsored by Senators Da Ponte and Connors. It has been directed to complete, by June 30, 2010, a comprehensive study and analysis of all aspects of municipal pensions within the state, including funding, investments and management, eligibility, age of retirement, benefits, contributions and vesting.

In proposing the study commission, Senators Da Ponte and Connors said that municipal pension plans – whether as part of the RI Public Employee Pension System or separate from it – “are an integral part of the state’s annual budget expenditures as well as the state’s economy as a whole” and a comprehensive study is necessary “to provide the citizens of the state with the highest level of financial accountability while protecting the public employee’s right to accrued pension benefits.”