The Government Employee Retirement System’s April financial reports, presented May 29, showed a net cash deficit for the month of $7,388,464 and monthly annuity disbursements of $23,081,876. The investment portfolio’s market value at month-end was reported at about $508,200,000 with a month-to-date return of 0.5 percent.

Those figures are central to the system’s liquidity and investment oversight. Treasury collections and annuity outflows determine near-term cash needs, while the investment portfolio’s market value and returns affect long-term funding projections.

Treasurer Ashley presented the schedule of receipts and disbursements for the period ending April 30, 2025. She reported employer retirement contributions year to date of $57,981,725 and employee retirement contribution year to date of $29,517,926. For the month, the treasurer said disbursements included annuity payments of $23,081,876 and year-to-date annuity disbursements of $162,850,916. She reported a gross retiree payroll of $11,400,000 per semimonthly pay period and a retiree count of 8,785 as of May 15, 2025.

Treasurer Ashley said total collections for the reporting period were $18,336,769 and total disbursements for the month were $25,725,233, which produced the reported monthly net cash deficit of $7,388,464. She also reported an overall surplus figure of $15,961,822 in the period’s full accounting reconciliation presented to trustees.

The investment officer summarized April market conditions and portfolio performance. He said the plan “returned 0.5% month to date” and that fiscal year-to-date the plan was up roughly 1.8%. He reported the portfolio’s ending market value near $508.2 million, with $157,000 in income for the month and roughly $2.5 million in unrealized appreciation contributing to the month-end value. The officer noted domestic equity weakness was a driver of fiscal-year underperformance and that alternatives (notably site property and aviation positions) supported returns.

The board moved and approved the treasurer’s and investment officer’s reports during the meeting; motions to accept each report were made, seconded and recorded as carrying votes. Trustees did not take additional formal actions tied specifically to new appropriations, borrowing or asset sales in the meeting minutes.

Trustees and staff raised no detailed changes to contribution rates, benefit formulas, or investment policy at the May 29 meeting; the statements were presented for oversight and acceptance.