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Retirement investment commission asks legislature to keep $16.5M authorization, cites $4 billion in excess value since 2020
Summary
Mike Hitchcock told the Constitutional Subcommittee the Retirement System Investment Commission seeks to maintain its roughly $16.5 million authorization, highlighted a simplified asset allocation and reported about $4 billion in excess value above benchmark since a 2020 reallocation.
Mike Hitchcock, representing the Retirement System Investment Commission, told the Constitutional Subcommittee of the House Ways and Means Committee in 2025 that the commission is asking the General Assembly to maintain last year’s authorization of roughly $16,500,000 rather than increase it.
The request came with a summary of recent portfolio changes and performance. Hitchcock said the commission simplified its asset allocation in 2020 from about 18 asset classes to five and that “over the past 4 years … our staff has added a $4,000,000,000 in excess value above our commission’s…
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