May 20, 2020

Pension and disability payments are being made in full and on time.

We are grateful to our members who remain on the front lines ensuring public safety and providing essential services, and to our dedicated educators who have overcome unprecedented obstacles to teach Rhode Island's students. Thank you.
 
As Rhode Island responds to the COVID-19 pandemic, the health and safety of our employees and members remains our top priority. The Member Service Center is not accepting walk-in visitors. Members should call or email the Service Center for assistance or an appointment.

ERSRI staff is available by phone at 401-462-7600,
Monday - Friday from 8:30 a.m. until 4:00 p.m. 

You can e-mail us anytime at ersri@ersri.org.
Additional resources for members, including fact sheets and forms, are available here at ERSRI.org
 
If you missed last week's virtual Town Hall meeting with Treasurer Magaziner, you can watch a closed-captioned recording of the meeting by clicking this link.
 
During the one-hour meeting, the Treasurer discussed the State's response to the COVID-19 pandemic, the health of the pension system, and steps the system is taking to improve member service.

The Retirement System Remains Financially Secure

Currently, $3 billion of the pension fund is kept in defensively-positioned investments, including a Crisis Protection allocation that is designed to go up when the stock market goes down. Due in large part to the strong performance of the Crisis Protection allocation, even as the financial markets have been stressed in recent months, the pension system remains in a strong financial position.

Under no circumstances will money from the pension system be used to balance the state budget, as was done during the credit union crisis of the 1990s.

Detailed information about the fund, including the 'Back to Basics' investment strategy, performance, and information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at: investments.treasury.ri.gov 

Improvements to ERSRI Member Services

Beginning May 1st, ERSRI will offer 1-on-1 retirement counseling for members who are planning to retire within the next twelve months.

Beginning this winter, ERSRI will provide 1-on-1 retirement counseling for members who are planning to retire within the next five years. 

ERSRI.org is being re-designed to make it easier for our members to navigate and get an updated estimate of their retirement date and benefit amount.

Be on the Lookout for Scam Artists

The Internal Revenue Service is warning people not to respond to phone calls, emails, texts or social media messages requesting money or personal information before sending your income-tax refund or stimulus payment.
 
If you get a surprise email that appears to be coming from the IRS - don't open it or click on attachments or links. The IRS will not call you to demand immediate payment or threaten you with police, immigration officers or other law-enforcement. Scam artists use these types of threats to frighten and trick their victims.

COVID-19 Information & Resources

  • Information for older adults and people with medical conditions
  • How to protect yourself
  • What to do if you are sick
  • How to prepare for COVID-19

If you have questions about COVID-19, please visit health.ri.gov/covid or call 401-222-8022 (Mon-Fri 8:30am-4:30pm). Outside of business hours, please call 211.