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Mississippi PERS committee approves switch from S&P 500+3 benchmark to Cambridge private equity index
Summary
The committee voted to replace the current S&P 500 plus 3 (lag 1 quarter) benchmark with the Cambridge private equity benchmark, making the change effective for the current fiscal year and thereafter. The motion was moved and seconded and passed without recorded opposition.
The Public Employees Retirement System of Mississippi investment committee voted to replace its current performance benchmark, S&P 500 plus 3 (lag one quarter), with the Cambridge private equity benchmark and to make that change effective for the current fiscal year and going forward.
Speaker 2 introduced the request, saying, "What we're, asking is to replace the current benchmark, which is the S and P 500 plus 3, lag 1 quarter with the Cambridge private equity benchmark and then make it effective for the entire fiscal year, current fiscal year, then going forward?" Speaker 3 then moved the motion: "I'll move." Speaker 4 seconded: "I'll second." After a voice vote the chair said, "Hearing none, the motion passes."
The meeting record shows the motion was made, seconded and approved by voice; no roll‑call tally was provided in the transcript. The committee then proceeded to its scheduled manager presentations.
Next steps: staff did not specify implementation timing beyond making the change effective for the current fiscal year and "then going forward."
