Rhode Island Pension Investment Board Reviews Hedge Fund In Closed-Door Meeting

Rhode Island governor-elect Gina Raimondo and the state Investment Commission held a closed-door meeting last week to review a particular hedge fund, Mason Capital, in which $61.7 million of pension money is currently invested. The exact reason for the meeting, and what was said during, is unknown because the session was exempt from the state’s Open ...

Rhode Island Panel, Tasked With Improving Local Pensions, Sends Recommendations to Lawmakers

A Rhode Island panel, established three years ago to make recommendations to improve the health of local pension plans, finally submitted its proposals to state lawmakers Monday. The panel submitted 11 recommendations in all, but only a handful had majority support from the panel. From the Providence Journal: As drafted, the recommendations and ideas ...

Raimondo, Fung Fight Over Pension Funding, Fees

Allan Fung, Rhode Island’s Republican candidate for governor, released an ad last week slamming his opponent Gina Raimondo for paying “high fees” for “poor returns” on pension investments. [The ad can be viewed above.] Raimondo’s campaign issued the following statement refuting Fung’s claims and accusing Fung of mismanaging Cranston’s ...
RI returns vs median

Chart: The Cost of Rhode Island’s Underperforming Investments

The chart above illustrates how Rhode Island’s pension fund returns stack up against the typical plan – Rhode Island has underperformed relative to the national median in three of the last four years. The chart below illustrates the actual cost of that performance: Chart credit goes to the International Business Times.

Craig Douglas: Massachusetts Candidates Need To Take Page Out of Gina Raimondo’s Book

Rhode Island’s pension system, and the race for governor surrounding it, has been grabbing all the headlines of late. But it’s neighbor, Massachusetts, is probably just as deserving of the press. Data from the Center for Retirement Research suggests that Massachusetts’ various retirement systems are among the most underfunded in the country. ...

Investigating Gina Raimondo’s Ocean State Investment Pool

GoLocalProv today published the results of an investigation into an investment pool – called the Ocean State Investment Pool – set up by Rhode Island Treasurer Gina Raimondo to help towns and cities “maximize investment returns”. GoLocalProv writes that the fund certainly saw gains – but it also racked up investment expenses: The investment ...

Rhode Island, Raimondo Defend Hedge Fund Position After CalPERS Pullout

Rhode Island’s pension fund invests nearly $2 billion in hedge funds, or 14 percent of its overall portfolio. In light of CalPERS high-profile pullback from hedge funds, The Providence Journal asked Gina Raimondo, Rhode Island’s Treasurer, for her thoughts on CalPERS’ decision and the fate of hedge funds in Rhode Island’s portfolio: State Treasurer ...

Rhode Island Gov. Candidate Allan Fung Is A Pension Reformer, Too

By now, everyone knows about Gina Raimondo’s track record on pensions. Despite the controversy surrounding her 2011 reform efforts and subsequent investment strategies, she made pensions a central facet of her campaign for governor. Her Republican opponent, Allan Fung, is now taking up a similar strategy. Fung, currently the Mayor of Cranston, has ...

Gina Raimondo Wins Rhode Island Democratic Primary; Pensions Remain Campaign Issue

Rhode Island Governor candidate Gina Raimondo has beaten out challengers Angel Taveras and Clay Pell to win the state’s Democratic Primary. From Politico: With 96 percent of precincts reporting, Raimondo led Providence Mayor Angel Taveras, 42 percent to 29 percent, with first-time candidate Clay Pell at 27 percent. Rhode Island Democrats are ...

Fact-Checking Pension Claims in Rhode Island’s Race For Governor

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