Wed April 13, 2011
Pension performance report finds larger liability
By IAN DONNIS
PROVIDENCE, R.I. – An actuarial report documenting the performance of Rhode Island's pension fund will be presented Wednesday morning to state officials.
The so-called experience study will reveal how the pension fund has performed in comparison to earlier expectations. Actuaries will present their findings during a 9 am meeting of the Employees Retirement System of Rhode Island.
An 8.25 percent return has been anticipated for the pension fund for the last decade. Depending on the fund's performance, the state could be on the hook for a lot more money to meet its obligations.
State Treasurer Gina Raimondo chairs the Retirement System. Raimondo is conducting her own study to determine the size of Rhode Island's unfunded pension liability. That number is generally estimated in the neighborhood of $5 billion, although Raimondo has said the unfunded liability could be as much as $10 billion.
Read The Report
Read all 93 pages of the report here.
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