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.
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
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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Spring 2018 Issue of Compass, ERSRI’s Member Newsletter, is Available Online
May 2018: The Spring 2018 issue of Compass is available to read online. Articles in this issue include:
- Message from Treasurer Magaziner
- Retirement System Update
- Member News
- Member Profile: Lori Leporacci, Teacher at Potter Burns Elementary School
- 2018 Federal Tax Witholding Information
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Treasurer Magaziner, Shareholders Clear Major Milestone in Fight to Hold Student Loan Giant Navient Accountable
May 2, 2018: Rhode Island General Treasurer Seth Magaziner is leading investors in demanding answers from the nation's largest student loan servicer about its role in the growing national student debt crisis after Navient unsuccessfully attempted to blocked shareholders from voting on his proposal by appealing to the U.S. Securities and Exchange Commission.
"The student loan crisis is threatening the financial security of millions of Americans," said Treasurer Magaziner. "It is our duty as shareholders to ensure that student loan servicers have a credible plan for how to address growing levels of debt and delinquency."
Shareholders will have the opportunity to vote on Treasurer Magaziner's proposal, which is item four on Navient's 2018 proxy statement, at the company's annual meeting on May 24, 2018 in Wilmington, Delaware.
You can read the press release here.
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Treasurer Magaziner, Coalition of Investors Secure Commitment from Wells Fargo to Review and Report on Business Practices that Led to Widespread Consumer Fraud
April 25, 2018: Treasurer Magaziner was one of 23 investors that have secured a commitment from banking giant Wells Fargo to publish a business standards report on the root causes of past and present fraudulent activities, along with plans to address the systemic failures which allowed unethical and illegal practices to flourish.
"It is imperative that Wells Fargo be transparent and forthright about the corporate culture and business practices that lead to the bank engaging in massive fraud against its own customers," said Treasurer Magaziner. "The bank must continue to take steps toward real reform in order to re-establish trust with stakeholders".
Following months of engagement by concerned investors, including Treasurer Magaziner, Wells Fargo's Board of Directors agreed to publish the requested report by October 2018. Treasurer Magaziner met personally with Wells Fargo board members and executives, including CEO Tim Sloan, as part of this successful effort.
Treasurer Magaziner, on behalf of the members of the Rhode Island pension system, also cast votes in favor of a shareholder proposals with Wells Fargo (NYSE: WFC) which request additional disclosure about employee incentive compensation programs, incorporating social responsibility performance measures as a broader component of executive compensation, as well as a proposal to reduce the ownership threshold for shareholders to call a special meeting.
You can read the press release here.
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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.