255A4DC90CF820E9872582EA005DBE2F Hearing Summary CLICS/CLICS2018A/commsumm.nsf PUBLICBILL SUMMARY For PERA OVERVIEW AND UPDATEINTERIM COMMITTEE PENSION REVIEW COMMISSIONDate Aug 15, 2018 Location xLSB B PERA Overview and Update - Committee Discussion Only Attachment Tag File Name Attachment C http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/AF7306B6C36F...$File/Attachment C - Impact of SB200.pdf?OpenElement Attachment C - Impact of SB200.pdf Attachment B http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/CB48E0CE39E6...$File/Attachment B - PERA Presentation.pdf?OpenElement Attachment B - PERA Presentation.pdf 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.