RI Pension Fund Outperformed Benchmarks in FY24

RI Pension Fund Outperformed Benchmarks in FY24

Published on Thursday, July 25, 2024

Providence, RI - Today, Rhode Island General Treasurer James A. Diossa announced that the state pension fund has outperformed the plan's primary investment benchmark and the actuarial expected return over the past fiscal year.

As of June 30, 2024, the Employees' Retirement System of Rhode Island (ERSRI) had approximately $11 billion in plan assets. Its FY2024 performance demonstrated a 10.5% net investment result, outperforming the benchmark return of 9.6%.

ERSRI's 3-year performance demonstrated a 5.8% net investment result, outperforming the benchmark return of 4.4%. The fiscal 2024 return exceeded the actuarial expected return of 7% by nearly 3.5%.

The state's Other Post Employment Benefits (OPEB) fund demonstrated an 11.6% net investment result, outperforming the benchmark return of 11.0%. OPEB's 3-year performance demonstrated a 3.6% net investment return, outperforming the benchmark return of 2.6%.

"I am committed to ensuring that Rhode Island retirees, public employees, and taxpayers get the best possible returns on their investment. These strong returns are key indicators that our investment strategy is on the right track," said General Treasurer Diossa. "I applaud the Treasury investment team and our State Investment Commissioners for their work on behalf of all Rhode Islanders."