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 $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.
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.
Are You Planning to Retire Soon?
Are you planning to retire within the next nine months? If so, ERSRI offers group retirement counseling sessions at our Warwick office. During your counseling session, ERSRI will provide you with a benefit estimate and the required retirement forms. You may also want to review ERSRI's Retirement Planning Checklist.
Please schedule your counseling session six to nine months before retirement by calling ERSRI at 401-462-7600.
If you have additional questions, please contact ERSRI using our "Contact Us" page or by phone at 401-462-7600.
The ERSRI Member Service Center is open Monday - Friday from 8:30 a.m. until 4:00 p.m.
News and Updates
Rhode Island Pension Fund Releases Overview of Recent Actions to Strengthen Corporate Accountability
September 21, 2018: Treasurer Magaziner today released an overview of the actions his office has taken this year to strengthen corporate accountability at hundreds of publicly traded companies in which the state's pension fund invests.
Each year, publicly traded companies seek votes from shareholders on items including electing board members, executive pay packages, as well as proposals from shareholders on environmental, social and governance issues. As a multi-billion-dollar investor in the U.S. and Global stock markets, Rhode Island's pension fund holds shares in thousands of companies.
"Every Rhode Islander deserves to retire with dignity and financial security, especially those who spend their careers in public service," said Treasurer Magaziner. "We expect companies in which we invest to engage in responsible business practices that protect members of the pension fund from financial risk. Shareholder engagement allows us to advocate for our members and hold corporations accountable."
You can read the 2018 Shareholder Engagement Review here.
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Pension System Receives National Recognition for Quality of Financial Reporting
August 29, 2018: The Government Finance Officers Association (GFOA) has awarded Employees’ Retirement System of Rhode Island a "Certificate of Acievement for Excellence in Financial Reporting", its highest form of recognition in governmental accounting and financial reporting, for its 2017 Comprehensive Annual Financial Report.
"Over the past three years, we have focused on making the pension system’s financial information easier for the public to access and understand,” said Treasurer Magaziner. “I am grateful to the hard-working professionals in our office who serve the public and am pleased that GFOA recognized our efforts."
Employee’s Retirement System of Rhode Island’s 2017 Comprehensive Annual Financial Report (CAFR), which was published in December 2017, was judged by an impartial panel which found that the Report demonstrated a “spirit of full disclosure” to clearly communicate financial information, as well as an overall status report on the operations of the retirement system.
In the letter informing Treasurer Magaziner of the award, GFOA wrote “We hope that your example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting".
Employees’ Retirement System of Rhode Island’s 2017 Comprehensive Annual Financial Report can be downloaded at www.treasury.ri.gov/CAFR
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Pension Fund Earns $125 Million in July, Outperforms Benchmark
August 23, 2018: Rhode Island's pension fund continued to deliver strong performance under Treasurer Magaziner's Back to Basics investment strategy earning $125 million in July. That 1.51 percent return on the month finished ahead of the fund's benchmark which returned 1.31 percent. The positive performance was driven by the investments in the global stock market - mostly low fee index funds designed to provide long-term growth.
"Public servants who spend their careers deserve to know that their pensions will be there for them in retirement and taxpayers deserve to have their public pension systems managed responsibly," said General Treasurer Seth Magaziner. "My Back to Basics investment strategy is performing well and the health of the system continues to improve."
In the 3-year period ending July 31, 2018 the fund also outperformed its benchmarks; earning an annualized return of 6.68 percent versus the plan benchmark return of 6.34 percent, as well as a traditional 60 percent stock/40 percent bonds portfolio, which would have earned 6.06 over the same period.
Over a 5-year period, the fund earned an annualized return of 6.95 percent, outperforming the internal benchmark return of 6.71 percent and a 60/40 benchmark, which posted 6.41 percent.
Detailed information about the $8.4 billion 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.
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Summer 2018 Issue of Compass, ERSRI’s Member Newsletter, is Available Online
August 2018: The Summer 2018 issue of Compass is available online. The articles in this issue include:
- Message from Treasurer Magaziner
- Retirement System Update
- Member News
- Member Spotlight: Michael Jolin - Office of Veterans Affairs
- YOUR MONEY - Treasury's Unclaimed Property Program
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Pension fund posts 8.03% return in Fiscal Year 2018 beating target and benchmarks
July 23, 2018: General Treasurer Seth Magaziner today announced that the State's pension fund finished its fiscal year ahead of its investment target and benchmarks.
The fund returned 8.03 percent in the fiscal year ending June 30, 2018, ahead of its 7.0 percent annual target and ahead of its own benchmark which returned 7.59 percent over the same period. The fund also outperformed a traditional 60 percent stock/40 percent bonds portfolio which would have earned just 6.25 percent.
With this fiscal year's performance, the $8.3 billion fund continued its strong performance under Treasurer Magaziner's administration. Since taking office in January 2015, the fund earned more than $1.67 billion from its investments, $1.24 billion of which has been earned since Treasurer Magaziner's Back to Basics investment strategy was adopted in September 2016.
Part of the Back to Basics strategy included exiting most hedge funds in favor of more traditional strategies for growth and stability. Over the past 12 months, investments in private equity returned 17.9 and global index funds earned 11.5 percent net of fees and expenses.
"We have taken our investment strategy back to basics for our members, who count on us for a secure retirement, and for all taxpayers, who deserve responsible financial management from their elected officials," said Treasurer Magaziner.
All performance figures are net of fees and expenses. Investment information, including performance, fees and expenses, information about managers, and public records requests are available online at the Treasurer's Transparency Portal at: investments.treasury.ri.gov.
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R.I. Treasury's 2017 Annual Report Highlights Progress in Strengthening Pension System
Treasurer Magaziner recently released his 2017 Annual Report which highlights progress made toward improving the state's economy, strengthening its pension system and finding ways to put Treasury's resources to work for Rhode Islanders.
"As Treasurer, I remain committed to promoting economic growth and financial stability for all Rhode Islanders," said Treasurer Magaziner. "2017 saw the implementation of a number of new efforts to better serve the people of Rhode Island including programs to support small business lending, return millions of dollars in unclaimed property to Rhode Islanders automatically, and efforts to strengthen the state's retirement system."
In its first full year, Treasurer Magaziner's 'Back to Basics' investment strategy, which included exiting more than $500 million from hedge funds, the state's pension fund earned more than $1.09 billion and grew to a decade-high $8.42 billion by December 31, 2017.
You can download the Annual Report here.
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Retirees: Does ERSRI Have Your Current Mailing and E-Mail Address?
Each month, ERSRI sends an e-mail to retirees letting you know that your Pay Statement is available to view, as well as quarterly e-mails letting you know when Compass
, ERSRI’s newsletter, is available.
To update your contact information, please log into your account
and click on the “Update My Personal Information” icon, which looks like this:
There, you will see a “Changing Your Personal Information” box, which looks like this:
Simply update any outdated information and click the green “Update” button and you’re done.