PROVIDENCE – For the third year in a row, Rhode Island’s pension system has earned a certificate of achievement for transparency in financial reporting from the Government Finance Officers Association of the United States and Canada.
“My administration has made it a top priority to ensure all Rhode Islanders can get the information they need about our pension system when they need it,” said General Treasurer Seth Magaziner, whose office announced the award on Friday. “That’s why we created an accessible investment information center at investments.treasury.ri.gov, where Rhode Islanders can easily locate information about how the fund is invested, returns and more.”
Magaziner has prioritized transparency of the pension system since he took office in 2015.
He implemented a “Transparent Treasury” policy requiring pension investment managers to publicly report fees and performance. He says Rhode Island was also the first state in the country to require that new investments be placed only with fund managers who publicly disclose performance, fees, expenses and liquidity.
