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255A4DC90CF820E9872582EA005DBE2F Hearing Summary




PUBLIC
BILL SUMMARY For PERA OVERVIEW AND UPDATE

INTERIM COMMITTEE  PENSION REVIEW COMMISSION
Date Aug 15, 2018      
Location xLSB B



PERA Overview and Update - Committee Discussion Only


11:05:31 AM  

Ron Baker, Interim Executive Director of the Public Employees' Retirement Association (PERA), distributed a copy of his presentation to committee members [Attachment B].  He provide an overview of PERA.

11:14:07 AM  

Mr. Baker provided an overview of the governance structure of PERA.  Committee discussion ensued. 

11:19:03 AM  

Amy McGarrity, Chief Investment Officer for PERA, provided an overview of investment asset allocations and investments for long-term goals.

11:28:33 AM  

Mr. Baker discussed the rate of return on PERA's investments.  He also spoke on the changes Senate Bill 18-200 made to PERA and distributed a handout describing the Impact of SB 18-200 on PERA [Attachment C].  Mr. Baker spoke on the goal for PERA to be fully funded within 30 years.

11:35:01 AM  

Mr. Baker continued to discuss the provisions and impacts of SB 18-200.  He addressed committee questions regarding investments in global equities.

11:41:07 AM  

Ms. McGarrity answered questions from the committee regarding lower risk portfolios and private market investments.  She also discussed the rates of return by asset class.






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