PROVIDENCE, RI – General Treasurer Seth Magaziner today announced his intent to nominate the following individuals to the Rhode Island State Investment Commission (SIC) and Rhode Island State Retirement Board:
State Investment Commission:
• Robert Benson, C.F.A., Senior Vice President & Chief Investment Officer at Amica Mutual Insurance Company and former President of the Providence Society of Financial Analysts.
• Marie Langlois, C.F.A., retired Managing Director of Washington Trust Investors, who currently serves as chairwoman of the Rhode Island Foundation Investment Committee and serves on the boards of directors of Lifespan, Miriam Hospital Foundation, Salve Regina University and Rhode Island Philharmonic and Music School.
• Marcia Reback (reappointment), retired President of the Providence Teachers Union and current SIC member, who also serves on the boards of directors of the American Federation of Teachers, Holmes Partnership, Providence Central Labor Council, Rhode Island AFL-CIO Executive Board, Rhode Island Commissioner of Education's Policy Consortium, Working RI, Rhode Island Jump$tart and Rhode Island Urban Education Task Force, among others.
State Retirement Board:
• Marianne Monte, Vice President of Human Resources at Hanover Insurance Group and member of the Gay & Lesbian Advocates and Defenders (GLAD) Board of Directors.
Treasurer Magaziner has submitted their names to the Rhode Island State Senate for confirmation.
"The State Investment Commission and State Retirement Board each play a vital role in ensuring the sustainability of the state's retirement system and promoting economic growth and financial security for all Rhode Islanders," said Treasurer Magaziner. "I am pleased to announce the nomination of several industry leaders whose wisdom, expertise and reputation will further establish Rhode Island Treasury as a national standard for accountability, transparency and responsible management."
"I also want to thank outgoing members Robert Giudici and Andrew Reilly for their valued service on the State Investment Commission, and Frank Bennell, Jr. for his leadership on the State Retirement Board," added Treasurer Magaziner.
The State Investment Commission is a 10-member volunteer body that is chaired by Treasurer Magaziner. The Commission, which meets monthly, handles the investments of the Employees' Retirement System of Rhode Island and oversees non-pension related investments, such as the General Fund.
The State Retirement Board is a 15-member volunteer body that is chaired by Treasurer Magaziner. The Board, which meets monthly, oversees the Employees' Retirement System of Rhode Island and votes on investment rate of return assumptions, approves disability pensions and makes decisions that affect Rhode Island's retirees.