Rhode Island pension system honored for financial reporting

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The Employees' Retirement System of Rhode Island received the highest form of recognition in governmental accounting and financial reporting from the Government Finance Officers Association for its 2017 comprehensive annual financial report.

A GFOA panel said the CAFR, which the retirement system published in December 2017, 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.

“I am pleased that GFOA recognized our efforts,” said state General Treasurer Seth Magaziner. "Over the past three years, we have focused on making the pension system's financial information easier for the public to access and understand.”

In the letter to Magaziner, 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.”

Fitch Ratings and S&P Global Ratings rate Rhode Island’s general obligation bonds AA. Moody’s Investors Service rates them Aa2. All three assign stable outlooks.

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Municipal disclosure Seth Magaziner State of Rhode Island GFOA Rhode Island