i_pensionrevew_2018a_2018-08-15t10:00:58z1 Hearing Summary

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.

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

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

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.

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

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.