Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Elevate Pension Board approves rebalancing after mixed first-quarter returns, directs $500,000 shift from high‑yield
Summary
The Elevate Pension Board reviewed a first‑quarter investment report and approved a set of rebalancing trades, including a $500,000 withdrawal from a principal high‑yield holding to be placed in a new high‑yield fund and a $500,000 contribution to the plan's core fixed‑income account used for benefit payments.
The Elevate Pension Board approved a set of rebalancing recommendations after reviewing the pension plan’s first‑quarter investment report and April valuations.
The board voted to move cash among equity and fixed‑income holdings, including a recommendation to withdraw $500,000 from the Principal high‑yield account and place $500,000 into a new high‑yield fund to be selected later. The board also approved a $500,000 contribution to the plan’s principal core fixed‑income account, the account used to pay benefits, and smaller equity reallocations including $140,000 to a Vanguard S&P 500 fund and $80,000…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
