General Treasurer Seth Magaziner today released his administration's 2015 Annual Report, which provides a comprehensive, easy-to-read summary of Rhode Island Treasury's performance, functions, successes and projects during Magaziner's first year as Treasurer.
"As Treasurer, I am committed to promoting economic growth and financial stability for all Rhode Islanders, and we have had a busy and successful first year in office," Magaziner said. "Treasury is proud of all we accomplished in 2015, and our work to serve Rhode Island continues with the same level of ambition and urgency."
The 2015 Annual Report details Treasury's accomplishments in 2015 to promote economic growth and financial stability through responsible stewardship of the State's retirement system, financial accounts and investments, Crime Victims Compensation and Unclaimed Property programs, CollegeBoundfund, and financial literacy initiatives. The report also covers Treasury's development of policy initiatives designed to spur economic growth and broad-based opportunity for all Rhode Islanders.
Treasury's 2015 highlights include:
Investing In Rhode Island
- Established a State Infrastructure Bank to put Rhode Islanders back to work retrofitting buildings to make them more energy efficient and expanding renewable energy across the state.
- Strengthened Rhode Island's CollegeBoundfund by partnering with a leading global investment management firm and the nation's largest administrator of 529 college savings programs.
Transparency
- Made Rhode Island's pension system one of the most transparent in the nation by requiring that the state only invest in funds that allow us to publish their performance, fees and expenses.
- Launched an online investment information center and a data portal that offers unprecedented access to State Treasury information.
Fiscal Stewardship
- Outperformed key investment benchmarks while navigating the most volatile year in the financial markets in nearly a decade.
- Unveiled a plan to strengthen the oversight and management of all public debt in Rhode Island, to make it more affordable and accountable to our taxpayers.
- Protected Rhode Island's pension system by pursuing two class action lawsuits against fossil fuel industry giants BP and Plains All American for oil spills that harmed investors and hurt the environment.