Providence’s pension return tops state’s since ’11

By Dan McGowan

PROVIDENCE, R.I. (WPRI) – The pension plan in Rhode Island’s capital city has outperformed the state’s fund since Democratic rivals Mayor Angel Taveras and Treasurer Gina Raimondo took office, the city’s longtime financial consultants said Thursday.

The analysis, conducted by Boston-based Wainwright Investment Counsel, shows Providence’s $284 million in investments earned a 10.9% return between 2011 and 2013, while the state pension fund earned a 9.2% return during the same time period.

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