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Norwalk board unanimously authorizes collective investment trusts in IPS; tables one pension, approves another
Summary
Trustees voted unanimously to add explicit authorization for collective investment trusts to the investment policy statement, tabled one pension over start-date questions and approved a second pension; votes were voice and recorded as unanimous.
At its Feb. 11 meeting the Norwalk City Pension Board voted unanimously to add explicit authorization to its investment policy statement (IPS) allowing investments in collective investment trusts (CITs), following an outside counsel review of a contract with Brightgray (trustee for Emerald).
Unidentified staff reported that outside counsel had…
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