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Monday, September 3, 2018

National group calls RI pension program a model of transparency

RI Pension System receives national recognition for quality of financial reporting

Related imageThe Government Finance Officers Association (GFOA) has awarded Employees' Retirement System of Rhode Island its highest form of recognition in governmental accounting and financial reporting for its 2017 Comprehensive Annual Financial Report.

"Over the past three years, we have focused on making the pension system's financial information easier for the public to access and understand," said Treasurer Magaziner. "I am grateful to the hard-working professionals in our office who serve the public and am pleased that GFOA recognized our efforts."


The Employee's Retirement System of Rhode Island's 2017 Comprehensive Annual Financial Report (CAFR), which was published in December 2017, was judged by an impartial panel which found that the Report demonstrated a "spirit of full disclosure" to clearly communicate financial information, as well as an overall status report on the operations of the retirement system.

In the letter informing Treasurer Magaziner of the award, GFOA wrote "We hope that your example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting".

Employees' Retirement System of Rhode Island's 2017 Comprehensive Annual Financial Report can be downloaded at www.treasury.ri.gov/CAFR.