The TRS’ annuity trust’s asset value grew to nearly $26 billion despite missing its benchmark by more than 150 basis points.
Despite the loss, the commonwealth’s pension funds just beat out their benchmark’s performance.
Ahead of an April 1 system overhaul, Steven Herbert has a ‘hundred actions’ he needs to perform.
The asset manager and former consultant is the sixth investment chief to head the fund in about 13 years. He starts Jan. 16.
At lowest funded US public pension fund, the same percentage of active worker payrolls will not net the same level of contributions as in the past.
The state’s full contribution led to a fourth straight year of higher funding levels, as the pension issue continues to roil the legislature.
Right now, the investment head can’t earn a salary above the governor’s $167,000, half what the chief could make elsewhere.
Legislation creates new panel of trustees for County Employees Retirement System.
