Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Callan summarizes 2024 performance for Norwalk pension funds and outlines 2025 work plan
Summary
Callan, the pension board’s investment consultant, gave a year-end review of the City of Norwalk pension and OPEB portfolios, flagged a few underperforming managers for monitoring, and recommended a 2025 schedule of manager presentations and custodial review work.
Callan, the investment consultant to the City of Norwalk Pension Board, reviewed 2024 performance and presented a proposed work plan for 2025, saying the consultant would continue manager monitoring, run custodial benchmarking if requested, and schedule targeted manager presentations.
Callan told the board it had completed asset-allocation studies for both the pension fund and the city’s OPEB plan, updated the pension investment policy statement (IPS), and performed fee analyses across all plans including the defined-contribution (DC) accounts. Callan said the OPEB IPS will be formally reviewed in 2025.
The consultant recommended several items as priorities for the coming year: inviting the board’s fixed-income managers to present to the board, scheduling an overview…
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
