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Caprio: Rhode Island Outperforms Nation's Largest Pension Fund
State's return of 13.46% once again beats the California Public Employees' Retirement System (Calpers) gain of 11.4%
PROVIDENCE- 7/19/2010 - General Treasurer Frank T. Caprio announced today that the Rhode Island State Employees' Pension Fund has once again outperformed the nation's largest public pension plan, the California Public Employees' Retirement System (Calpers).
"Over the past fiscal year the State of Rhode Island's Public Pension Fund has delivered a return of 13.46%," said Treasurer Caprio. "Over the same time period, Calpers has announced a return of 11.4%. That's a margin of more than 200 basis points in our favor," Caprio said.
According to the latest figures released by State Street Investments, over the past year Rhode Island's investment performance ranks in the top 21% of State Street's data base of public pension funds in excess of $1 billion. Over a 3-year time frame, Rhode Island is ranked in the top 17% of large public pension funds and when the performance is stretched out to 5 years, Rhode Island ranks in the top 22%.
"These have certainly been challenging economic times for all public pension funds," said Treasurer Caprio. "Due to the strong fiscal practices of the State Investment Commission (SIC) and the Office of the General Treasurer, Rhode Island has not only weathered the storm, but we have consistently beat our benchmark and outperformed many of the top pension systems in the country," Caprio said.
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Links and Key Resources:
Media Contact Information
Rhode Island General Treasurer
Tim Gray
Director of Communications
tgray@treasury.ri.gov
401.222.4705(o)
401.439.6705(c)
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