NEW: SEC Closes Rhode Island Pension Investigation
Tuesday, July 09, 2013
"Our pension practices are transparent, our disclosure is accurate, and our pension system is on a firm foundation," Raimondo said. "Any cloud that lingered over our pension disclosure is gone. Our public employees and retirees should have greater peace of mind today."
The SEC investigation of the financial statements and disclosures about the $7.7 billion Employees' Retirement System of Rhode Island began in early 2011 and examined disclosure in bond offering documents related to pension finances from 2007 to the beginning of Raimondo's term, in 2011.
"This is a well-deserved result for Rhode Island," said Paul Maco, a partner at Bracewell & Giuliani. "The SEC, as a matter of policy, will not explain its reasoning. From my perspective, several factors may have been influential. Treasurer Raimondo's Truth in Numbers initiative, combined with adding an overall robust commitment to state of the art financial disclosure, training, and best practices to existing good disclosure, plus decisive legislative action on pension reform, all likely influenced the SEC's decision to end its investigation of the State."
- EXCLUSIVE: State Pension Fund Lost $200M under Raimondo
- NEW: Fox and Raimondo Team Up on Legislation on “Economic Growth”
- Raimondo Receives up to $500,000 Payment from Pt. Judith Firm
- Forbes Columnist Attacks Nesi’s Relationship With Raimondo
- NEW: Raimondo Featured In Institutional Investor on Pension Reform
- Russell Moore: Risk, Volatility + High Fees—Raimondo’s Gamble
- Forbes Magazine Blasts Raimondo - “‘Reform’ Looks More Like Wall Street Feeding Frenzy”
- NEW: Raimondo One of Four Honored For Excellence
- Should Raimondo Release Contracts with Hedge Funds
- Former Teachers Union Head Blasts Raimondo’s Pension Investments
- NEW: Raimondo Reviews Pension Portfolio for Gun Holdings
- Tea Party Lines Up Behind Treasurer Raimondo on Pension Reform
- In Case You Missed It: Raimondo’s Pension Investments
- NEW: Raimondo to Discuss Distressed Municipalities
- Will Gina Raimondo & Angel Taveras Run for Governor?
- 2014 RI Governor’s Race - Raimondo Has the Early Money Lead
- NEW POLL: Shows Raimondo Over Chafee and Doherty Over Taveras
- NEW: Treasurer Raimondo Voices Support for Gay Marriage
- AFSCME Info Request on Money Managers’ Fees Blocked By Raimondo
- New: Raimondo Issues ‘State of the Treasury’ Mid-term Report
- Carol Anne Costa: Raimondo Steps Up For Crime Victims
- NEW: Block Blasts Raimondo’s Infrastructure Proposal
- Raimondo Received $21K from Employees of SEC Violators