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Fortune's Most Powerful Women Summit - Day 2Fortune's Most Powerful Women Summit - Day 2
Raimondo speaks onstage during Fortune's Most Powerful Women Summit at the Mandarin Oriental Hotel in Washington, DC. Paul Morigi — Getty Images
Raimondo speaks onstage during Fortune's Most Powerful Women Summit at the Mandarin Oriental Hotel in Washington, DC. , Paul Morigi — Getty Images
  • Title
    Governor
  • Affiliation
    Rhode Island
  • Age
    44

America’s smallest state just tackled one of the country’s biggest fiscal problems. Countless state and local governments struggle with under­financed pension plans, and Rhode Island’s was one of the worst before 2014. That’s when Gina Raimondo, then state treasurer, engineered an overhaul that slashed cost-of-living increases and pointed the system toward solvency. Public-sector unions fulminated and sued, but voters rewarded Raimondo by electing her governor. In 2015 she negotiated legal settlements that preserved her pension reforms, inspiring hope in cash-strapped statehouses everywhere.

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