Decision on Google 'Windfall' Will Pull Pension Plans Off Critical List
The U.S. Attorney General ruled last week that East Providence can use $49.2 million of the Google settlement cash for its unfunded police pension liabilities.
The decision came in the early afternoon last Friday, Jan. 11; by 3:30 pm, a press conference was set up in North Providence by Rep. Jack Reed, Sen. Sheldon Whitehouse and Gov. Lincoln Chafee to announce the decision. The decision: East Providence can use $49.2 million of its $60 million Google windfall for the unfunded liabilities of its police pension fund. “It’s very specific,” said East Providence Mayor James Briden, who was invited to the press conference about 30 minutes before it took place. “It allows us to apply $49.2 million to the police pension.” Sen. Whitehouse said U.S. Attorney General Eric Holder “made an exception based on the unique facts presented,” Briden said. “It brings closure to our appeal.” East Providence had …
