Rhode Island Municipal Basics

  • Established 1951
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, Rhode Island Municipal, 2001-2018

Fiscal Year Net Assets (billions)
2001 0.8
2002 0.7
2003 0.7
2004 0.8
2005 0.9
2006 1.0
2007 1.2
2008 1.1
2009 0.9
2010 1.0
2011 1.2
2012 1.2
2013 1.2
2014 1.4
2015 1.4
2016 1.4
2017 1.5
2018 1.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Rhode Island Municipal US State and Local Pensions
2001 2.2 2.5
2002 2.2 2.4
2003 2.2 2.3
2004 2.2 2.2
2005 2.1 2.1
2006 2.1 2.1
2007 2.0 2.0
2008 2.0 2.0
2009 1.8 1.9
2010 1.7 1.8
2011 1.6 1.7
2012 1.5 1.6
2013 1.5 1.5
2014 1.4 1.5
2015 1.4 1.5
2016 1.4 1.4
2017 1.4 1.4
2018 1.3 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Rhode Island Municipal, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 2.7 0.0 5.0 2.7 2.7
2002 3.0 0.0 4.8 3.0 3.0
2003 2.7 0.0 5.7 2.7 2.7
2004 3.6 0.0 7.3 3.6 3.6
2005 4.9 0.0 9.0 4.9 4.9
2006 7.2 0.0 9.3 7.2 7.2
2007 9.0 0.0 10.0 9.0 9.0
2008 11.0 0.0 10.4 11.0 11.0
2009 10.9 0.0 10.2 10.9 10.9
2010 10.2 0.0 10.5 10.2 10.2
2011 9.6 0.0 12.5 9.6 9.6
2012 11.8 0.0 12.9 11.8 11.8
2013 11.4 0.0 13.9 11.4 11.4
2014 12.1 0.0 14.5 12.1 12.1
2015 13.7 0.0 14.9 13.7 13.7
2016 14.2 0.0 14.8 14.2 14.2
2017 14.1 0.0 15.1 14.1 14.1
2018 13.2 0.0 18.1 13.2 13.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Rhode Island Municipal, 2001-2018

Fiscal Year Rhode Island Municipal National Data
2001 118.1 106.5
2002 111.3 101.1
2003 100.7 94.2
2004 93.2 93.1
2005 87.2 91.1
2006 87.1 90.5
2007 90.3 91.2
2008 92.8 90.2
2009 88.3 83.2
2010 73.6 81.5
2011 84.3 80.4
2012 82.5 78.9
2013 82.1 78.7
2014 84.1 79.0
2015 83.8 78.2
2016 83.0 76.3
2017 78.6 76.4
2018 79.4 76.5

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Rhode Island Municipal, 2018

Category Percent
Equities 46.1
Fixed Income 22.3
Private Equity 8.0
Real Estate 7.0
Cash 3.0
Other 3.6
Commodities 1.8
Hedge Fund 8.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Rhode Island Municipal, 2005-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2005 68.0 25.2 6.0 0.0 0.7 0.0 0.0 0.0 0.0
2006 65.5 24.3 9.6 0.0 0.3 0.0 0.0 0.0 0.0
2007 64.0 26.0 9.2 0.0 0.6 0.0 0.0 0.0 0.0
2008 60.1 26.4 13.3 0.0 0.1 0.0 0.0 0.0 0.0
2009 57.6 25.8 9.3 4.7 0.2 2.4 0.0 0.0 0.0
2010 51.8 32.0 9.7 3.6 0.9 1.9 0.0 0.0 0.0
2011 54.3 30.6 8.4 3.4 0.3 3.0 0.0 0.0 0.0
2012 48.0 26.7 8.5 3.8 0.4 0.6 0.0 12.1 0.0
2013 48.5 20.7 7.5 3.5 0.3 0.0 0.0 19.2 0.0
2014 49.3 20.9 6.7 3.1 0.2 0.0 0.0 19.7 0.0
2015 46.7 25.9 6.7 4.6 0.7 0.0 1.0 14.4 0.0
2016 44.5 17.8 9.3 6.6 1.0 0.0 1.1 19.8 0.0
2017 46.1 17.1 8.7 7.2 3.0 2.0 1.6 14.2 0.0
2018 46.1 22.3 8.0 7.0 3.0 3.6 1.8 8.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for Rhode Island Municipal, 2001-2018

Fiscal Year Rhode Island Municipal Assumed return
2001 -11.00 8.25
2002 -8.40 8.25
2003 3.90 8.25
2004 19.50 8.25
2005 12.20 8.25
2006 12.60 8.25
2007 15.84 8.25
2008 -5.39 8.25
2009 -19.18 8.25
2010 13.46 7.50
2011 20.40 7.50
2012 1.55 7.50
2013 11.10 7.50
2014 15.12 7.50
2015 2.22 7.50
2016 -0.27 7.50
2017 11.62 7.00
2018 8.03 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Rhode Island Municipal
2001-2018

Fiscal Year Cash Flow Assets
2001 -13.2 783.3
2002 -12.3 705.8
2003 -15.4 708.5
2004 -13.4 830.6
2005 -13.7 911.6
2006 -9.5 1,008.9
2007 -5.3 1,189.0
2008 -1.9 1,119.0
2009 -7.0 892.2
2010 -14.2 1,000.5
2011 -24.5 1,170.0
2012 -24.2 1,164.8
2013 -40.8 1,249.3
2014 -41.2 1,393.7
2015 -34.2 1,392.2
2016 -33.9 1,357.9
2017 -34.8 1,480.3
2018 -36.6 1,560.5

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Rhode Island Municipal
2001-2018

Fiscal Year Rhode Island Municipal National Average
2001 -1.7 -2.3
2002 -1.7 -2.3
2003 -2.2 -2.6
2004 -1.6 -1.7
2005 -1.5 -1.9
2006 -0.9 -1.9
2007 -0.4 -1.7
2008 -0.2 -1.9
2009 -0.8 -2.7
2010 -1.4 -2.9
2011 -2.1 -2.8
2012 -2.1 -3.1
2013 -3.3 -3.0
2014 -3.0 -2.7
2015 -2.5 -2.8
2016 -2.5 -3.0
2017 -2.4 -2.9
2018 -2.3 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Rhode Island Municipal benefit descriptions.