Rhode Island Pension Fund Earns $345 Million in July

Published on Thursday, August 18, 2022

The Rhode Island pension system continued its strong performance in July 2022, returning 3.47% and gaining $345,042,443 during the month of July 2022.

“Our administration has prioritized strong financial performance for the thousands of Rhode Island teachers, nurses, first responders, and other community servants in the pension system who deserve retirement security, as well as for the 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 historic highs while outperforming our peers.”

As of July 31, the system returned an average of 9.81% and 8.51% annually during the trailing three-year and five-year periods, respectively, outperforming a traditional 60% stock / 40% bond portfolio, which would have returned 5.32% and 5.50% during the same periods.

The Rhode Island pension fund outperformed 98% of public pension plans during the 2022 Fiscal Year, continuing the consistent outperformance the Rhode Island plan has achieved under Treasurer Magaziner’s ‘Back to Basics’ Investment Plan.

According to the InvMetrics Public DB Database, which tracks the performance of 533 public pension plans, Rhode Island outperformed 98% of pension plans in the database in fiscal 2022, achieving an annualized return of -1.4%, significantly ahead of the median public pension plan performance of -10.9% as well as a traditional 60% stock / 40% bond portfolio return of -13.4%.

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.

All performance is reported on a “net of fees” basis.