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Rhode Island Pension Fund Surpasses $10 Billion in Assets for the First Time

In April 2021, the Rhode Island Pension Fund surpassed $10 billion in assets for the first time in history. This builds upon the strong growth of the previous year, when the pension fund continued to steadily climb despite market volatility.

"Every Rhode Islander deserves retirement security, and particularly those who serve our state as teachers, nurses, first responders and in other essential fields," said General Treasurer Seth Magaziner. "Our Back to Basics strategy is continuing to provide strong returns for the pension fund, and as a result of this positive performance retirees in the system will receive a cost of living adjustment this year."

In April, the pension system returned 3.29%, outperforming a standard 60% stock / 40% bond portfolio, which would have returned 2.94%. Fiscal Year to Date, the pension fund has earned 21.51 %, outperforming a benchmark of 60% stocks and 40% bonds, which would have returned 19.62%.

The Rhode Island Pension Fund has consistently outperformed its peers in recent years under Treasurer Magaziner's Back to Basics strategy which prioritizes long-term growth and stability, and includes a crisis protection class to stabilize the pension fund during times of market volatility.

Additional information about the fund, including the 'Back to Basics' investment strategy, performance, and detailed information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at investments.treasury.ri.gov.

Note: All performance is reported on a "net of fees" basis.

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 05-24-2021

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