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September 17, 2007

Treasurer to study public pensions across the country

The State Retirement Board has approved a proposal to study differences between the state’s Employees’ Retirement System and similar public-sector systems across the country.

The Benchmarking study was proposed by General Treasurer Frank Caprio who said in a statement that the study “will enable us to measure the productivity of our operation and identify areas where we can do our jobs more effectively for the people of Rhode Island."

The study will consider service level, costs, number of transactions and complexity in its comparisons.

CEM Benchmarking, the company approved to conduct the study, has a database of information about many public-pension services.

Caprio said improving the system’s performance “is an essential part of my commitment to improve customer service and make government accountable.”

This move comes two months after the State Retirement Board announced a 14 percent increase this fiscal year – about a $50 million increase -- in the cost of the state pension system.

Posted by Brandie Jefferson  at 4:31 PM | Permalink

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