Treasurer Diossa Announces Strong Pension Fund Performance Over Past Fiscal Year

Published on Tuesday, September 26, 2023

Providence, RI – Today, Rhode Island General Treasurer James A. Diossa announced that the state pension fund has outperformed investment benchmarks over the past fiscal year. 

“As chair of the State Investment Commission (SIC) and fiduciary of the state’s pension system, I am committed to ensuring that Rhode Island retirees, public employees, and taxpayers get the best possible returns on their investment,” said General Treasurer Diossa. “Despite market unease and stress in recent years, and a challenging market in 2022, these strong returns are key indicators that our investment strategy is on the right track. I applaud the work of the Treasury investment team and our SIC commissioners.”

As of June 30, 2023, the Employees’ Retirement System of Rhode Island (ERSRI) had $10.5 billion in plan assets. Its FY2023 performance demonstrated an 8.9% net investment result, outperforming the benchmark return of 7.1%. ERSRI’s 3-year performance demonstrated a 10.5% net investment result, outperforming the benchmark return of 9.7%.

The state’s Other Post Employment Benefits (OPEB) fund demonstrated an 11.2% net investment result, outperforming the benchmark return of 7.7%. OPEB’s 3-year performance demonstrated a 7.7% net investment, outperforming the benchmark return of 6.5%.