RIPEC President and CEO Michael DiBiase testified before the Rhode Island House Finance Committee in support of the City of Providence’s proposed $515 million pension obligation bond (POB), which includes stronger guardrails than last year’s proposal. The POB was among the recommendations made by the Providence Pension Working Group, co-chaired by RIPEC, to address the city’s $1.2 billion unfunded pension liability. The unfunded pension liability is “not sustainable,” DiBiase told WJAR 10.