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 boosted returns, Treasurer Gina Raimondo’s office announced Wednesday. The fund’s assets totaled $7.55 billion as of June 30.

The 11.1% return came in below the 11.3% return of the fund’s benchmark over the same period. It was also less than the Massachusetts fund’s 12.7% return or CalPERS’ 12.5% increase. Meanwhile, a status conference on progress in mediating the union lawsuit challenging the state’s 2011 pension law is set for Aug. 6.

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• Related: Chart: How Raimondo has changed RI’s pension investments (April 4)

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