SUBJECT/RECOMMENDATION:
Title
Annual review of the Employees’ Pension Plan investment performance for the calendar and plan year ended December 31, 2020.
Body
SUMMARY:
For calendar 2020, the Plan realized an investment return of 15.68%, versus a customized benchmark of 12.61%, placing the plan in the 11th percentile of public pension plans per the Wilshire Public Plan Sponsor Universe.
For the last three calendar years, the plan had an average annualized return of 10.62%, versus a benchmark of 8.16%, placing the plan in the 10th percentile of public plans.
The investment committee, with the assistance of the Plan’s investment consultant, CapTrust, meets on at least a quarterly basis to monitor asset allocation and money manager performance, and will continue to recommend money manager terminations, replacements, and/or additions when appropriate.