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PERS consultants report strong Q3 returns, call out cost savings in deferred-comp plan
Summary
Callan reported that Mississippi Deferred Compensation options outperformed benchmarks over multi-year horizons, noted market concentration in mega-cap tech and highlighted lower participant fees (estimated $6.3M vs $20M median) that save participants roughly $13$14 million annually.
Callan consultants delivered a broad market update to the Public Employees Retirement System of Mississippi investment committee, saying equity and fixed-income returns through the third quarter produced positive outcomes for Mississippi Deferred Compensation (MDC) participants and for the broader pension fund.
Consultants described a market driven by a narrow group of large-cap technology names, which has made life difficult for some active managers but beneficial for…
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