RI Treasurer Magaziner Talks ‘Back to Basics’, College Costs, and St. Joseph’s Pension Fund
Saturday, October 07, 2017
Rhode Island General Treasurer Seth Magaziner joined GoLocal LIVE and discussed improvements in the performance in the state's retirement returns due to the move away from hedge funds and towards what he describes as more traditional strategy, -- dubbed, "Back to Basics." In the past year, Magaziner's office has led a divestment of more than $500 million from hedge funds.
Magaziner also discussed the need to provide parents with more tools to decrease the costs of higher education. Presently, his office offers the CollegeBound Savers program. As a "529 plan" college saving plan, "investments and earnings can be used at accredited colleges, universities, vocational school and trade schools across the nation."
Magaziner also voiced his outrage at the collapse of the St. Joseph Health Service's pension fund. He said he has spoken both with receiver Stephen Del Sesto and special investigator Max Wistow.
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