Woonsocket (R.I.) Municipal Police and Fire Pension System will become fully funded, the result of a $90 million pension obligation bond issue June 26. The system has $2.1 million in assets and an $87.4 million projected liability as of July 1, said Robert Strom, city finance director.
"With the volatility in the market, it proved to be an advantage for us,” he said. "Perhaps we picked the best time to do something of this magnitude and it’s going to be beneficial for the city and it addresses a major liability of the city.”
