Seth Magaziner

Elisabeth Harrison / RIPR

A new proposal from Rhode Island General Treasurer Seth Magaziner aims to strengthen underperforming municipal pension plans.

More boisterous times in state and national politics. So thanks for stopping by for my weekly column. As usual, your tips and comments are welcome, and you can follow me through the week on the twitters. Here we go.

Happy weekend! Thanks for stopping by for my weekly column. As usual, your tips and comments are welcome, and you can follow me through the week on the twitters. Here we go.

NY Photographic / Creative Commons License Via ShareAlike

Rhode Island General Treasurer Seth Magaziner unveiled a plan Thursday that moves millions of dollars in state deposits to local financial institutions. The "Bank Local" initiative was applauded by Ocean State banks, credit unions, and small business owners during the Statehouse announcement. 

State General Treasurer Seth Magaziner joins Bonus Q&A this week to discuss financial regulation, the outlook for Providence pension, the heavy unfunded liabilities for municipalities' retiree health care, and other issues.

Ian Donnis / RIPR

State General Treasurer Seth Magaziner joins Political Roundtable this week to discuss fallout from the UHIP controversy; the next move on the state pension fund's expected rate of return; and how RI Democrats are responding to President Trump.

After a quick jaunt out of town, your humble correspondent is back in the Biggest Little. So thanks for stopping by. As usual, your comments and tips are welcome and you can follow me through the week on the twitters. Here we go.

Kristin Gourlay / RIPR

A new program will help disabled Rhode Islanders save money in a tax free investment account without risking their federal and state benefits. The program will allow the disabled to set aside money for additional disability-related expenses.

Just a few weeks remain until 2017, a year bound to be filled with political drama. Thanks for stopping by for my weekly column. As usual, your tips and comments are welcome, and you can follow me through the week on the twitters. Here we go.

RIPR file photo / RIPR

State Treasurer Seth Magaziner is calling on the Trump administration to keep financial regulations put in place after the Great Recession.

Magaziner outlines his view in a letter to Trump’s designated Treasury secretary, Steven Mnuchin

October beckons, with playoff baseball, autumnal beauty, and the run-up to the deciding of legislative races. So thanks for stopping by for my weekly column. As usual, your tips and comments are welcome, and you can follow me through the week on the twitters. (A quick program note: I'm taking most of next week off, so TGIF will probably not return until October 14.) Here we go.

Ian Donnis / RIPR

The state Investment Commission on Wednesday approved a recommendation by General Treasurer Seth Magaziner to reduce the 15 percent hedge fund allocation in Rhode Island's $7.65 billion pension plan to 6.5 percent over the next two years.

State Pension Fund Down Last Year

Aug 5, 2016
RIPR file photo

Rhode Island’s pension fund declined by about six percent over the last fiscal year. That’s according to the state Treasury Department, which reported losses of about $466 million dollars. Most of the decline came from the payout of pension benefits, which outpaced contributions. State Treasurer Seth Magaziner said investment losses were another source of the decline.

Ann-Marie Fink, who oversees Rhode Island's almost $8 billion pension fund as the state's chief investment officer, is leaving Treasury for a private sector job, RIPR has learned.

Fink was hired during Governor Raimondo's tenure as state treasurer, starting on the job in January 2013. Fink succeeded Kenneth Goodreau, who left for a private sector job with TIG Advisors after four years as the state's top investment officer.

Fink did not respond to a request for comment Monday.

Budget Holds New Debt Tools

Jun 10, 2016
Elisabeth Harrison / RIPR

State treasurer Seth Magaziner said that the measures included in the new budget will do more than just fund a new debt management study. They will also provide much needed controls over the many different city and state organizations that are able to borrow money using taxpayer dollars.

"It will allow us to make sure that when, not only the state, but cities and towns and districts are issuing debt they’re doing it efficiently and using best practices and getting the best possible rates and the lowest possible fees."

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