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RI pension fund still in a deep hole

Frank Caprio released a statement earlier today ballyhooing the state pension fund’s investment performance in fiscal 2010. I have a new story up putting the numbers in context: The pension fund is...

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Is RI’s pension liability really $6.5B, not $4.4B?

Pensions pensions pensions. I could probably spend all my time writing stories about the arcane ins and outs of the state’s public pension system and never run out of stories. (Whether I’d run out of...

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RI, unlike Mass., not exposed to funds raided by FBI

The FBI raided three hedge funds on Monday as part of a major insider trading probe, and now Boston.com is reporting that Massachusetts’ $43.6 billion state pension fund has almost $66 million invested...

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Fact check: Kerry King on the pension fund’s investments

In a recent letter to the Projo, Kerry King – last year’s Republican candidate for general treasurer - wrote this: The tentative decision to set a 7.5 percent rate was made even though the outside...

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Providence’s rosy return rate may mask $1.46B pension gap

Providence’s pension plan could be in far worse shape than the official figures show. The city-run system was only 34% funded as of June 30, 2010, with $428 million in assets saved to cover $1.3...

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Schilling, UBS i-bankers shill for new 38 Studios investors

38 Studios' R.A. Salvatore, Todd McFarlane and Schilling Curt Schilling moved 38 Studios to Rhode Island in return for a $75 million taxpayer-guaranteed loan. But that doesn’t mean he’s given up on...

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Rhode Island lost $200M when markets plunged on Monday

Rhode Island’s state investment portfolio lost about $200 million in Monday’s market crash, according to General Treasurer Gina Raimondo’s office. That represented a roughly 3% drop in the value of the...

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NYC’s pension fund aims to match earnings of Harvard, Yale

After reading my story about the Rhode Island pension fund’s “lofty” 7.5%-a-year investment goal, commenter Jake asked a good question: Why have Harvard, Brown and Yale’s endowments performed so much...

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Going Dutch? Netherlands uses Raimondo-like COLA formula

In the debate over the Raimondo-Chafee pension bill, most of the discussion around cost-of-living adjustments (COLAs) has focused on the proposal to suspend them for up to 19 years to restore the...

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RI pension fund earned 1.4% in 2011; Raimondo avoiding risk

By Ted Nesi PROVIDENCE, R.I. (WPRI) – Rhode Island’s state pension fund earned a paltry 1.4% return on its investment portfolio last year, far below its target of a 7.5% annual return, WPRI.com has...

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Portsmouth slices pension fund’s investment outlook to 6.75%

Portsmouth’s leaders are breaking with the rest of Rhode Island when it comes to pensions. The Portsmouth Town Council voted last month to slash its locally run pension plan’s projected rate of return...

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What The Netherlands can teach Rhode Island about pensions

Should Rhode Island cut its pension investment forecast to 2.42%? The idea sounds outlandish, considering Treasurer Raimondo was harshly condemned in 2011 when she got the rate lowered from 8.25% to...

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Raimondo puts 14% in hedge funds, 10 times US median

Treasurer Gina Raimondo has invested 10 times more pension money in hedge funds than the median state-government retirement system does, a WPRI.com review of financial records shows. Raimondo, as chair...

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RI pension fund earns 9.8% return, but lags its peers

The investment performance of Rhode Island’s pension fund is lagging behind its peers under the new mix of assets adopted by Treasurer Gina Raimondo and the State Investment Commission that relies more...

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Taveras invests 20% in hedge funds, more than Raimondo

It turns out that the Democratic gubernatorial hopeful who has the biggest chunk of pension money invested in hedge funds isn’t Treasurer Gina Raimondo – it’s Providence Mayor Angel Taveras. Providence...

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RI pension fund earned 11% last year as market rebounds

By Ted Nesi PROVIDENCE, R.I. (WPRI) – Rhode Island’s state pension fund earned 11.1% in the 2012-13 fiscal year, a big improvement over its 1.4% rise the prior year as a worldwide market rebound...

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Taveras’s 13.4% pension return beats Raimondo’s 11.1%

Providence is significantly outpacing the state of Rhode Island in the battle of the pension plans. Providence’s $247-million pension fund, the second-largest in Rhode Island, earned a return of 13.4%...

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RI pension fund again lags its peers with return of 11.1%

By Ted Nesi The investment performance of Rhode Island’s pension fund continues to lag behind its peers under the new mix of assets adopted at Treasurer Gina Raimondo’s urging that relies more heavily...

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Top Raimondo aide floats a full review of RI pension portfolio

Treasurer Gina Raimondo wasn’t a big fan of Matt Taibbi’s headline-grabbing Rolling Stone article about Rhode Island and other states that have reduced pension benefits while investing assets in hedge...

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Taveras moves $11M of city pension assets out of hedge funds

Providence’s pension fund has moved quickly to reduce its exposure to hedge funds this year, but a spokesman for Angel Taveras said Wednesday it’s not an effort by the mayor to get an advantage over...

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