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PERS deferred-comp plans post gains; committee adds T. Rowe Price to MDC watch list
Summary
The PERS Investment Committee heard annual reviews of the Mississippi Deferred Compensation (MDC) and Optional Retirement Plan (ORP), received an Empower update on participation, security and distribution trends, and voted to add the T. Rowe Price International Growth Trust to the MDC watch list.
The Public Employees Retirement System of Mississippi (PERS) Investment Committee on Aug. 23 reviewed results for the participant-directed MDC and the ORP platforms and voted to add the T. Rowe Price International Growth Trust to the MDC watch list.
Committee materials showed the MDC’s total assets closed June 30 “just shy of $2,500,000,000,” with domestic equity representing more than 55 percent of plan assets. A committee presenter said most asset classes produced positive unrealized gains for the quarter and that realized long‑term returns generally exceeded benchmarks and peer medians.
The committee moved the T. Rowe Price International Growth Trust to the MDC watch list after a presentation explaining that the strategy has trailed its benchmark on rolling three‑ and five‑year returns and ranked below the committee’s preferred percentile range. Ryan Holiday of the plan’s investment consultant said, “we wanna add T. Rowe Price International Growth Trust to the…
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