By Muskan Arora
After three
decades, Frank Karpinski, the executive director of $11.5bn Rhode Island
Employees’ Retirement System announced his retirement.
Karpinski will retire by the end of fiscal year, which for the pension plan, ends June 30.
He joined
the pension plan in May 1994 and served as director of finance for seven years
before being promoted to executive director in February 2021.
“Frank’s tenure and contributions to ERSRI and the state
have been remarkable,” said James A. Diossa, the state's general treasurer and
the pension fund's board chair, in a news release.
“His unparalleled knowledge and insightful guidance have
been essential in ensuring our continued focus on serving ERSRI members and all
Rhode Islanders. We are incredibly grateful for his dedication and leadership
throughout his tenure, and we look forward to ensuring a seamless transition as
we search for a new executive director,” added Diossa.
A search will begin soon to identify Karpinski’s successor.
Karpinski earned his bachelor's degree in accounting and finance from Bryant University.