Large Language Models (LLMs) face an inherent challenge: their knowledge is confined to the data that they have been trained on. To overcome this issue, Retrieval-Augmented Generation (RAG) complements the static training-derived knowledge of LLMs with an external knowledge repository. RAG consists of three stages: indexing, retrieval, and generation. The retrieval stage of RAG becomes a significant bottleneck in inference pipelines. In this stage, a user query is mapped to an embedding vector and an Approximate Nearest Neighbor Search (ANNS) algorithm searches for similar vectors in the database to identify relevant items. Due to the large database sizes, ANNS incurs significant data movement overheads between the host and the storage system. To alleviate these overheads, prior works propose In-Storage Processing (ISP) techniques that accelerate ANNS by performing computations inside storage. However, existing works that leverage ISP for ANNS (i) employ algorithms that are not tailored to ISP systems, (ii) do not accelerate data retrieval operations for data selected by ANNS, and (iii) introduce significant hardware modifications, limiting performance and hindering their adoption. We propose REIS, the first ISP system tailored for RAG that addresses these limitations with three key mechanisms. First, REIS employs a database layout that links database embedding vectors to their associated documents, enabling efficient retrieval. Second, it enables efficient ANNS by introducing an ISP-tailored data placement technique that distributes embeddings across the planes of the storage system and employs a lightweight Flash Translation Layer. Third, REIS leverages an ANNS engine that uses the existing computational resources inside the storage system. Compared to a server-grade system, REIS improves the performance (energy efficiency) of retrieval by an average of 13x (55x).