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Consultants report strong returns and recommend monitoring managers; committee to consider switching OPEB ETFs to indexed funds in spring
Summary
Consultants told the Simsbury Retirement Subcommittee that defined contribution and pension portfolios produced strong returns (about $11M aggregate gains; portfolios up ~14% last year net of fees), flagged a few managers for closer monitoring, and proposed a spring discussion to recommend converting OPEB ETFs to lower‑cost indexed funds.
Consultants from the advisor team updated the Simsbury Retirement Subcommittee on the town’s defined contribution, pension and OPEB investments, reporting largely positive performance alongside targeted monitoring of specific managers.
On the defined contribution side, Dan Duffy said the 457 plan held about $20,800,000 at quarter end, up from roughly $18.4 million the previous quarter, with roughly 20% of assets in target‑date funds, about 30% in domestic equity (S&P 500/index funds), 11% in T. Rowe Price growth, and 18% in the MissionSquare stable value option. Dan said participants are “set it and let the market dictate,” noting limited movement between funds. He also told the committee that T. Rowe Price target‑date funds have delivered strong, long‑term…
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