Highlights & Video from Treasurer Magaziner's ERSRI Town Hall Meeting
April 22, 2020: Thanks to the 700+ retirees and active employees who joined us for Treasurer Magaziner's virtual town hall meeting last night.
During the one-hour meeting, the Treasurer discussed the State's response to the COVID-19 pandemic, the health of the pension system, and steps the system is taking to improve member service.
You can watch a closed-captioned recording of the meeting by clicking this link.
ERSRI is Open and Operational
Pension payments, applications, and all other transactions are being processed, and retirement counseling is being offered by phone or video conference.
ERSRI staff is available by phone at 401-462-7600 weekdays from 8:30 a.m. until 4:00 p.m.
You can e-mail us anytime at ersri@ersri.org.
The Retirement System Remains Financially Secure
In 2016, Treasurer Magaziner's "Back to Basics" investments strategy was implemented and $550 million in hedge funds was redeemed and re-invested in a diversified strategy for long-term growth and stability. Currently, $3 billion of the fund is kept in defensively-positioned investments, including a Crisis Protection allocation that is designed to go up when the stock market goes down.
Due in large part to the strong performance of the Crisis Protection allocation, even as the financial markets have been stressed in recent months, the pension system remains in a strong financial position.
Treasurer Magaziner has made clear that it will not be necessary for the State to borrow money from the pension system, delay contributions into the system, or reform benefits in any way as a result of the Covid-19 crisis.
Improvements to ERSRI Member Services
Last year, more than 5,000 of you responded to ERSRI's member service survey. Thank you! The most-requested service enhancements were 1-on-1 retirement counseling and an updated website.
- Beginning May 1st, ERSRI will offer 1-on-1 retirement counseling for members who are planning to retire within the next twelve months.
- Beginning this winter, ERSRI will provide 1-on-1 retirement counseling for members who are planning to retire within the next five years.
ERSRI.org is being re-designed to make it easier for members to navigate and get an updated estimate of your retirement date and benefit amount. Please feel free to continue to send us ideas for how to further enhance your retirement planning experience.
