Rhode Island's Pension System has been recognized for its commitment to transparency by the Government Finance Officers Association of the United States and Canada (GFOA). This is the third year in a row that Rhode Island's Pension System has won the GFOA Certificate of Achievement.
"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. 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. I'm pleased that GFOA has recognized our commitment to transparency for the third year in a row," said General Treasurer Seth Magaziner.
As Treasurer, Magaziner has prioritized transparency of the Pension System since day one. He implemented a "Transparent Treasury" policy - which requires pension investment managers to publicly report fees and performance - just months after he took office in 2015, and the policy was later passed into law by the RI General Assembly as a requirement for all future Treasurers.
Under Magaziner's leadership, Rhode Island was 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. The GFOA Certificate of Achievement recognizes the Pension Fund's commitment to a "spirit of full disclosure," for all Rhode Islanders.
The GFOA Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial regulation.
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Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.
Contact: Rosie Hilmer, Communications Director (401) 439-2199| rosie.hilmer@treasury.ri.gov