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Murrysville pension fund posts double-digit return, outperforms peers
Summary
Pension consultant Chris Brokaw told Murrysville Borough Council the retirement fund met long-term policy goals, returned 11.47% in 2024 and held $31.8 million in assets as of 12/31/2024 — outperforming a public-plan peer group and averaging 8.21% over five years.
Chris Brokaw, who presented a brief annual update to Murrysville Borough Council, said the borough’s pension fund met its long-term investment objectives and outperformed comparable public plans.
"In 2024, it returned 11.47%," Brokaw said, adding that the fund ranked in the top 10% of peer public plans and produced a five‑year average return of 8.21%. He reported plan assets of $31,800,000 as of Dec. 31, 2024. Brokaw summarized the pension plan’s policy goals as achieving a 7% long‑term actuarial rate of return, meeting benefit and expense obligations in perpetuity, preserving purchasing power after inflation, maintaining prudent risk levels and delivering results comparable to similar plans.
Council counsel reported they had completed an in‑depth review of the annual report and expressed satisfaction with performance, while council members asked whether the fund invests in cryptocurrency; Brokaw replied, "The answer is no." The presentation drew no motions or votes; council members thanked Brokaw and moved on to the regular agenda.
The update provides the council with the performance figures and confirms staff and the pension committee are reviewing the plan in accordance with its investment policy. Council did not take further action at this meeting.
