Press Release

Treasurer Magaziner Announces Pension Fund Reaches New All-Time High of $10.64 Billion

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November 18, 2021

Press Release

Pension Fund earns more than $2.28 billion over the last year

The Rhode Island pension fund continued its strong performance, finishing the month of October 2021 with a new all-time high of approximately $10.64 billion after earning more than $2.28 billion over the last year.

"Strong investment performance for the pension system is important, not only for Rhode Island teachers, nurses, and first responders who deserve retirement security, but also for all taxpayers who help fund the system," said Rhode Island General Treasurer Seth Magaziner. "Our 'Back to Basics' investment strategy is helping the pension fund reach all-time highs while supporting economic opportunity and providing thousands of Rhode Islanders with financial stability."

During the month of October 2021, the pension fund returned 2.85%, beating its actuarial benchmark of 2.72%.

The pension fund also continued to outperform?a?traditional 60% stock / 40% bond portfolio, achieving annualized returns of 26.57%, 13.71%, and?11.27% for the trailing?one-year,?three-year, and five-year periods. A 60% stock / 40% bond portfolio would have returned only 21.02%, 13.03%,?10.23% over the same periods, respectively.?

Additional information about the Rhode Island pension system, including the 'Back to Basics' investment strategy and performance, can be found online as part of Treasurer Magaziner's "Transparent Treasury" initiative at investments.treasury.ri.gov [r20.rs6.net].

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: 11-18-2021

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