Article
The Employees’ Retirement System of Rhode Island is overseen by a 15-member Retirement Board chosen in accordance with Title 36 of the Rhode Island General Laws. The Board approves disability pensions, votes on the target investment rate of return and other assumptions, and certifies employer contribution rates.
Retirement Board Members
The Board meets monthly and has four standing committees that meet quarterly.
Current members of the Retirement Board are:
- General Treasurer James A. Diossa, Chair, Ex Officio Member
- Brenna McCabe, Designee to Director, Department of Administration
- Joseph Codega, Jr., Director/Budget Officer (Appointed by Dir. of Admin.)
- Andrew E. Nota, Designee of The League of Cities and Towns, Ex Officio Member
- Alan G. Palazzo, Retiree Member Representative
- Sandra M. Paquette, Retiree Member Representative
- Yan Li, P.E., Active State Employee Representative
- Claire M. Newell, Active State Employee Representative
- Matthew K. Howard, Active Municipal Employee Representative
- Michael J. Cicerone, Jr., Active Teacher Representative
- Michael J. Twohey, Active Teacher Representative
- Mark A. Carruolo, Public Representative (Appointed by the Governor)
- Jean Rondeau, Public Representative (Appointed by the Governor)(Vice Chair)
- William S. Murray, Public Representative (Appointed by the General Treasurer)
- Dr. Laura Shawhughes, Public Representative (Appointed by the General Treasurer)
The State Investment Commission (SIC), established under Rhode Island General Law 35-10, oversees the assets of the pension system as well as non-pension related investments such as the General Fund. The SIC has a fiduciary duty to put first the interests of the members of the retirement system, and to pursue the best investment portfolio possible.
Retirement Board and SIC meeting information and agendas can be found on the Open Meetings site maintained by the Rhode Island Secretary of State.
