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Joy Fox, the Rhode Island treasurer's spokeswoman, said in a statement: "Strong returns from our investments, including alternative investments, help move the pension fund closer to the 80 percent funded level, where the cost-of-living adjustments come back.
The Affordable Care Act helped push back the insolvency date by eight years, so repealing the act would actually bring the trust fund closer to insolvency, perhaps in 2016.
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The fund closed its Chicago office last January.
Institutional Investor earlier reported the news of the fund closing.
Bidding for funding from next year's fund closes in January.
Yesterday, Janus Capital closed its flagship Janus Fund to new investors, its fifth fund closing this year.
Finances: The Best Banks The small-business lending fund closes with $4 billion distributed.
Blackstone's most recent buyout fund closed in January with $16 billion in capital commitments.
Standard Life reviewed the closure after 28 days and decided to keep the fund closed.
The fund closed its doors to new investors on Feb. 7, when assets eclipsed $1 billion.
The two main concerns when a fund closes are costs and performance.
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