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Trustees hear investment performance update and progress report on PAS implementation and succession planning
Summary
Investment markets produced positive returns in May; the portfolio logged month‑over‑month and fiscal‑year‑to‑date gains. Staff also updated trustees on the pension administration system (PAS) procurement and succession planning; staff stressed the need to include in‑house staff in implementation and to continue cross‑training.
Trustees received an investment performance update for May and a staff report on succession planning tied to the pension administration system (PAS) project.
A staff speaker reported that markets improved in May with developed equities up and the S&P 500 rising 6.3%; emerging markets and international equities also posted gains while fixed‑income lagged slightly. The speaker reported…
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