Rhode Islanders can take direct action and help stop pension fraud and abuse.
Call 401-462-TIPS (462-8477) 24 hours a day, seven days a week if you have a concern regarding disability fraud.
ERSRI online is your source for the latest information from the Employees’ Retirement System of Rhode Island, the state’s largest public employee retirement system. The $8 billion retirement system handles pension issues for state employees, teachers, the Municipal Employees’ Retirement System (MERS), MERS police and fire, correctional officers, BHDDH nurses, state police and judges.
Here, you'll find the latest tools to help you plan for your retirement, calculate your benefits and eligibility, and understand how laws and regulations may affect you.
For all members of these 58 plans who retired before June 30, 2012 and were previously receiving or eligible for a COLA - you will receive a COLA beginning the month following your retirement date in 2016.
For general MERS members of these plans who retired after June 30, 2012 – you will be eligible to receive a COLA three years after your retirement date or at your Social Security Normal Retirement Age, whichever is later.
For Police and Fire MERS members of these plans who retired between July 1, 2012 and June 30, 2015 – you will be eligible to receive a COLA three years after your retirement date or when you reach age 55, whichever is later.
For Police and Fire MERS members of these plans who retired after June 30, 2015 - you will be eligible to receive a COLA three years after your retirement date or when you reach age 50, whichever is later.
How is your COLA calculated?
Eligible retirees of these 58 plans will see an increase of 0.94 percent on the first $25,855 of their annual pension benefit for calendar year 2016.
For example: if your pension benefit is $40,000 per year the COLA will be calculated by multiplying $25,855 by 0.94% and adding that number to your $40,000 annual benefit.
$25,855 X 0.0094 + $40,000 = $40,243.04
How do we determine which plans get COLAs and which plans do not?
Municipal plans that are part of MERS, and have adopted a COLA provision, provide a COLA when the actuary determines the individual plan is at least 80% funded as of June 30, 2015. Plans that are not 80% funded do not provide a COLA to members.
Recipients of the Teachers' Survivor Benefit (TSB) will not receive a COLA this year because the Social Security Administration did not issue a COLA.
Please note that the ERSRI EIN number has changed for the 2015 tax year. The new EIN number is 04-3257275.
For an explanation of your 2015 1099R form please click here: 1099R Form
For an explanation for members who turned 59 ½ during 2015 and received two 1099R forms please click here: Multiple 1099R Form
ERSRI is in the process of conducting a survey of members to evaluate the quality of the services provided by this office. The survey is not intended to ask members to evaluate retirement or related benefits but will help the system explore ways to improve educational and customer service offerings.
In order to conduct the survey, ERSRI has partnered with academic researchers from Brown University and is leveraging an enterprise survey platform from Qualtrics. The survey is being sent to random sample of active members and retirees via email in the coming days.
August Market Update from General Treasurer Seth Magaziner
ERSRI Holding Retirement Board Election in January
The Employees’ Retirement System of Rhode Island is holding its election of Retirement Board members in the month of January 2016.
Active state employees who are members of the Employees’ Retirement System of Rhode Island may vote for two active state employee candidates. Retiree members of the Employees’ Retirement System of Rhode Island may vote for two retiree candidates.
The candidates for the two active state employee positions on the Retirement Board are incumbent Claire M. Newell, incumbent John J. Meehan, Arthur Abraham, Wilfredo H. Martinez, Robert J. Pelletier and Paul L. Dion.
The candidates for the two retiree positions on the Retirement Board are incumbent Roger P. Boudreau, incumbent Michael R. Boyce and Joanne Matisewski.
The Rhode Island Board of Elections will tabulate the ballots in February. Your elected representatives will be sworn in at the March 9, 2016 Retirement Board meeting.
Election information and ballots were mailed December 29, 2015. You should have already received your ballot in the mail. If you did not receive a ballot, please call Tatiana Pina in the Retirement office at 401-462-7685.
Please read the profiles of the candidates provided with the ballots and review the voting rules before you mark your choice on the ballot.
Please use a No. 2 pencil to mark the ballot.
Select your choice by connecting the two arrow ends to form a solid arrow that points to the candidate of your choice.
Fold and place the ballot in the official post-paid return envelope provided. Ballots must be postmarked by January 31, 2016.
A ballot is considered void if:
Ballots are postmarked after January 31, 2016;
Ballots are delivered in person to the retirement system;
Ballots are not delivered in the official return envelope;
Multiple ballots are sent in a single return envelope;
Ballots torn or mutilated in the ballot area;
Ballots contain more candidate selections than what is asked for;
Ballots are crossed out or erased;
Copies or facsimiles of ballots;
Ballots with write-in candidates
New Design of Pension Checks and Direct Deposit Remittances
Effective January 1, 2015 pension checks and direct deposit remittances have a new layout. To review the new design of pension checks and direct deposit remittances please click here: New Format
Retiree Healthcare Questions about retiree healthcare should be directed to the Office of Employee Benefits. You can reach that office at (401) 222-3160.
Are you planning to retire within the next nine months? If so, ERSRI offers group counseling at our Warwick office. A benefit estimate and retirement forms are provided at the group sessions. Schedule your appointment six to nine months before retirement by contacting the center at 401-462-7600.