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Welcome!

To reduce the spread of COVID-19, the Member Service Center is not accepting walk-in visitors.
Members should call or email the Service Center for assistance or an appointment.

Pension and disability payments are being made in full and on time.

Please contact ERSRI by using our "Contact Us" page, or by phone at 401-462-7600 Monday - Friday 8:30 a.m. - 4:00 p.m.

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 $9 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 year? If so, ERSRI offers individual retirement counseling sessions. 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.
 

News and Updates

Notice of Proposed Rule Making  (April 5, 2021)

Updated / Corrected 1099-R Forms Being Sent to Some Retirees

 If you are receiving a retirement benefit from ERSRI, you may have already received a form letter regarding your 1099-R that was previously mailed to you. The letter was sent by ERSRI’s pension payroll and 1099-R provider CERIDIAN, whose name is on the letterhead. You can view a sample of the letter here.

The letter notes that while the tax data printed on the 1099-R is correct, there were select box numbers that did not match the 2020 IRS form.
 
Consequently, CERIDIAN will be re-printing your 2020 1099-R with the updated box numbers and it will be mailed to you on or before 01/29/2021. The updated 2020 1099-R tax form you receive will have the “Corrected” checkbox on the form marked.

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Retirees: How to Read Your 1099-R Form

1099-R forms for 2020 are being mailed to ERSRI retirees in January 2021. The form provides the details concerning the benefit distributions you received during the 2020 tax year and should be used in filing your 2020 federal income taxes.
For help reading your 1099-R, please click here.

Some retirees may receive multiple 1099-R forms. For more information, click here

If you have not received your 1099-R by February 15, 2021, please call ERSRI at 401- 462-7600 to Monday – Friday from 8:30 a.m. – 4:00 p.m. to request a copy.

You can find information about how to access your 1099-R via the ERSRI member portal, here

For more information on your 1099-R, visit the Internal Revenue Service online at www.irs.gov, or call 800-829-1040.

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Rhode Island Pension Fund Surpasses $9 Billion for the First Time‚Äč

December 21, 2020: As 2020 nears a close, the Rhode Island Pension Fund surpassed $9 billion in assets for the first time in history, due in part to Treasurer Magaziner's "Back to Basics" investment strategy that has consistently outperformed Rhode Island's peers. 

"Since taking office, I've pledged to support economic opportunity and retirement security for all Rhode Islanders, including those who spent their careers serving others," said Rhode Island General Treasurer Seth Magaziner. "Surpassing $9 billion is a sign that the pension system continues to get stronger, and to achieve this level of growth even amidst a global pandemic is further proof that our 'Back to Basics' investment strategy is working." 

The Pension Fund earned $572.71 million in November and outperformed the plan's benchmark investment return. 

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.

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Treasurer Magaziner Hosting Virtual Town Hall for Members of the Retirement System

December 2020: ERSRI's virtual Town Hall with Treasurer Seth Magaziner, which had been scheduled for December 16th, has been re-scheduled to:

Wednesday, February 3, 2021
from 5:00 p.m. to 6:00 p.m. (ET)

February's meeting will include an update on the retirement system's investment performance, information on the 2021 Cost Of Living Adjustment (COLA) for retirees, as well as a discussion about expanding 1-on-1 retirement counseling for active employees. The Treasurer will be joined by Frank Karpinski, Director of Employees' Retirement System of Rhode Island, for a Q&A session.

You can sign up to attend the webinar at: treasury.ri.gov/townhall
 
Note: If you register, but can't attend the meeting on February 3rd, we will automatically send you a link to the recording that you can view on-demand.

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Rhode Island's Pension System Receives 3rd National Award for Transparency in Financial Reporting

December 4, 2020: Rhode Island's Pension System has been recognized for its commitment to transparency by the Government Finance Officers Association of the United States and Canada (GFOA). This is the third year in a row that the Pension System has won the GFOA Certificate of Achievement.

Treasurer Magaziner has prioritized transparency of the Pension System since day one. He implemented a "Transparent Treasury" policy - which requires pension investment managers to publicly report fees and performance - just months after he took office in 2015, and the policy was later passed into law by the RI General Assembly as a requirement for all future Treasurers.

The GFOA Certificate of Achievement recognizes the Pension Fund's commitment to a "spirit of full disclosure," for all Rhode Islanders.

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Fall Issue of Compass Available for Download

The Fall 2020 issue of Compass, ERSRI's member newsletter, is available for download.

The issue includes an investment update, information for active employees who participated in a Workshare program, and a benefit payment schedule for 2021.



Rhode Island Pension Fund Outperforms Market in October

November 18, 2020: This October, as the U.S. stock market fell by -2.16% (as measured by the Russell 3000), the Rhode Island pension system declined by only -1.09%, benefitting from the diversification of the plan's Back to Basics investment strategy and ending the month with $8,680,681,661 in total plan assets. The plan also outperformed a 60% stock / 40% bond benchmark for the month, which would have declined by -1.64%.

Over the past five years the Rhode Island pension system has outperformed both of its benchmarks, earning an average annual return of 6.90%, as compared to the 6.36% return for the internal plan benchmark and a 60% stock / 40% bond benchmark return of 6.75%.

Detailed 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.

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Member Handbook Updated

ERSRI’s updated Membership and Retirement Handbook will help you navigate the features and benefits of your pension plan. The information in this handbook can be a valuable resource throughout your career in public service and when considering you retirement plans.

The information in this booklet is provide for Rhode Island state employees, public school teachers, correctional officers, state registered nurses, and employees of participating Rhode Island units of the Municipal Employees’ Retirement System.

As different retirement rules and regulations apply to disability applications, police & fire members, judges, and State Police, please call the ERSRI Member Service Center at 401-462-7600 if you are in one of these categories.

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Impact of Employee Workshare Program on Your Pension Benefit

June 3, 2020 / Updated June 26, 2020: The Rhode Island Department of Administration (DOA) and some municipalities have announced that it will implement a voluntary WorkShare program for employees to assist in closing budget deficits. The program connects employees with the Unemployment Insurance WorkShare program to replace wages lost due to a reduction in work hours.

A participating employee will work at their regular job 3 days per week, or 60% of their regular schedule. They will be paid 60% of their normal pay. At the same time, the employee can enroll in the WorkShare program, which will provide compensation for the other 40% of the employee’s time.

Employees can learn more about this program by contacting their manager, or by going to the DOA website.

Note: Municipal employees should contact their employer for details. For State employees, the WorkShare program is scheduled to take place over 12 weeks, from June 14, 2020 - September 5, 2020 (6 pay periods). The maximum number of unworked days will be 24.

For some employees, participating in the WorkShare program may affect your pension benefit.  You can find more information at ERSRI's 2020 WorkShare page or by downloading this information sheet. 

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 Reviewing and Updating the Beneficiary on your Retirement Account

 Following major life events, including marriage, divorce, births and deaths, ERSRI encourages active employees and retirees to review the beneficiary information on their retirement account.

   
ERSRI pays a death benefit to your designated beneficiary. The death benefit is a one-time payment of $800 per full year of service, up to a maximum of $16,000.

Following retirement, the benefit is reduced by 25% each year with a minimum benefit of $4,000. You may name one or   more beneficiaries. 

To learn more about reviewing and updating your beneficiary, please click 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:
If you have have changed your address, phone number or e-mail, please make sure that you have informed the Retirement System.  You can log onto your account and then click:

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.
 

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