
Asset Allocation
TEXPERS Members’ Asset Shift Contradicts Conventional Wisdom
With rising rates and inflation, adding fixed income while reducing alts is the opposite of what most pensions are doing.
The performance falls well short of the pension funds’ benchmark and assumed rate of return.
State and local pension funds’ soundness improves from last year.
However, survey of 63 funds finds pensions performing below their 20-year target.
$750 million will go to the city’s police pension, and $250 million to the municipal workers' pension.
Even with lowered returns, no negative impact on ability to meet obligations.
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