ERSRI.org is your source for the latest information from Employees’ Retirement System of Rhode Island, the state’s largest public employee retirement system.
The nearly $8 billion retirement system works with state employees, teachers, the Municipal Employees’ Retirement System (MERS), MERS police and fire, correctional officers, BHDDH nurses, state police and judges regarding pension issues.
Here, you'll find the latest tools to help you plan for your retirement, calculate your benefits and eligibility, and understand how laws and regulations may affect you.
Planning to Retire Soon?
Are you planning to retire within the next nine months? If so, ERSRI offers group retirement counseling at our Warwick office. A benefit estimate and retirement forms are provided at the group sessions. Please schedule your appointment six to nine months before retirement by contacting ERSRI at 401-462-7600.
The ERSRI Customer Service Center is open Monday - Friday from 8:30 a.m. until 4:00 p.m.
If you have additional questions, please use the "Contact Us" page.
Thank you for visiting ERSRI.
News and Updates
Treasurer Magaziner Announces 'Back to Basics' Plan to Strengthen Pension Fund
September 28, 2016: General Treasurer Seth Magaziner announced today a new "Back to Basics" investment strategy for the Rhode Island pension fund, following unanimous approval by the State Investment Commission.
Among the changes that were recommended by Treasurer Magaziner is a significant reduction in the state's investments in hedge funds. Under the "Back to Basics" plan, the state will reduce its investment in hedge fund strategies by more than $500 million over the next two years, and reallocate these funds to more traditional asset classes.
You can read more about the plan here.
Summer 2016 Issue of Compass, ERSRI's Quarterly Newsletter, is Available Online
The Summer 2016 issue of Compass is now available on line, and includes:
- An overview of the customer service improvements you can expect when ERSRI's new system launches later this year, and information about the conversion this summer.
- ERSRI Executive Director Frank Karpinski answers commonly asked questions about beneficiaries, including what employees who are ready to retire need to do regarding their beneficiaries.
- An Investment Update, and;
- We are also pleased to introduce a new Investment Spotlight feature to provide more information about how the pension fund is invested. In this issue we discuss ERSRI's real estate investments.
Gov. Signs Bill Expanding Post-Retirement Employment for Substitute Teachers
July 14, 2016: Governor Raimondo recently signed companion bills into law that allow retired members of Employees’ Retirement System of Rhode Island who are certified as substitute teachers to substitute teach for up to ninety (90) days a year without reduction in retirement benefits. The law became effective immediately upon the Governor’s signature.
On behalf of the members of the Employees’ Retirement System of Rhode Island, Treasurer Magaziner commends the sponsors of the legislation, Senator Nesselbush and Representative Shekarchi, and the members of the General Assembly for their leadership on this initiative.
R.I. Budget Includes New Tax Exemption for Retirees
July 5, 2016: Rhode Island’s 2017 fiscal year budget, which took effect on July 1, 2016, includes a new tax exemption for qualified retirees.
The first $15,000 of retirement income will be exempt from state personal income tax for retirees who have reached full social security retirement age and have a gross income of $80,000 or less for single filers, or $100,000 in gross income for joint filers.
In the 2016 budget, the Rhode Island General Assembly passed a similar initiative that provided a tax exemption only for Social Security benefits. This year’s budget also includes an exemption for other types of retirement income, including public and private pensions.
The exemption is now expected to provide over $6 million in tax relief in 2017 and nearly $14 million in tax relief in 2018, reducing the tax burden for over 60,000 Rhode Island taxpayers.
On behalf of the members of the Employees’ Retirement System of Rhode Island, Treasurer Magaziner commends House Speaker Mattiello, Senate President Paiva Weed and the members of the General Assembly for their leadership on this initiative.
You can read more about Rhode Island’s 2017 budget here.
DISCLAIMER: This information is not intended to provide legal or accounting advice. Please consult a tax advisor for information on your specific situation.
ERSRI System Upgrade
May 2, 2016: To help us provide better customer service to our members, Employees’ Retirement System of Rhode Island is completing the final phase of a multi-year upgrade of our computer system.
Over the summer, ERSRI is beta-testing the new website with a small group of retirees. When launched system-wide later this year, the new site will not only help our staff deliver better service but also improve both the estimate and service purchase functionalities on the site. To learn more about the ERSRI system upgrade click here.