Today, RI Council 94, AFSCME, AFL-CIO announced their endorsement of Seth Magaziner for re-election as General Treasurer.
“Seth Magaziner understands the importance of financial stability all for Rhode Islanders, especially retirement security,” said Council 94 President J. Michael Downey. “As General Treasurer, Seth has focused on improving pension investment performance while keeping our members informed. We are grateful for his partnership, and endorse him for re-election.”
As Treasurer, Seth implemented the Back to Basics investment strategy, which relies on tried and true strategies to improve investment performance while keeping fees low. Since implementing Back to Basics, the system has earned more than $1.5 billion. Seth’s Transparent Treasury policies have made the fund one of the most transparent in the country.
“I thank President Downey and his members for their support of my re-election and their partnership to improve Rhode Island’s economy,” said Magaziner. “The work I have done in my first term would not have been possible without the dedication of our staff in the Treasurer’s office. These Council 94 members have helped strengthen the pension system, served its members, and reunited Rhode Islanders with their missing money. I am honored to work with them, and honored to receive their support.”