Rhode Island Pension Outperforms 98% of U.S. Public Pension Fund Funds in Fiscal  Year 2022

Published on Monday, August 15, 2022

The pension system’s performance outperformed 98% of funds for the twelve months ended June 30, 2022 and the also finished in the top 1% of funds for the trailing three-year period.   

 

Rhode Island General Treasurer Seth Magaziner today announced that the Rhode Island Pension Fund outperformed 98% of public pension plans over Fiscal Year 2022 (FY22) ending June 30, 2022, 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, the Rhode Island pension system’s performance outperformed 98% of funds for the twelve months ended June 30, 2022, and the plan also finished in the top 1% of funds for the trailing three-year period. 

“Every Rhode Islander deserves retirement security, especially those who have spent their career serving the community,” said Rhode Island General Treasurer Seth Magaziner. “Under our ‘Back-to-Basics' Investment strategy, the pension fund’s investment performance has consistently outperformed our peers, even during times of market volatility, preserving capital that can be used to pay vital benefits to retirees for years to come.” 

Over Fiscal Year 2022, the Rhode Island pension plan achieved a return of -1.4%, significantly ahead of the median public pension plan return of -10.9% as well as a traditional 60% stock / 40% bond portfolio return of -13.4%. 

During the trailing three-year period, the Rhode Island pension system achieved an average return of 8.7% compared to the median public pension plan return of 5.3% and a 60% stock / 40% bond portfolio return of 3.7%. 

Rhode Island has achieved strong performance relative to other pension funds since Treasurer Magaziner launched the ‘Back to Basics’ investment strategy in 2017. According to InvMetrics, Rhode Island has outperformed most public pension funds in four of the last five full fiscal years. 

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.