Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Treasurer Eric Russell says pension funds showing recent gains, outlines staffing and asset-allocation changes
Summary
State Treasurer Eric Russell told the Finance, Revenue and Bonding Committee his office has rebuilt investment staff, adopted a new 2022 asset-allocation and five‑year pacing plan, and reported strong recent returns (8.5% fiscal, 12.8% calendar 2023). He and CIO Ted Wright described manager selection, watchlists and recruitment reforms; Yale researchers urged further oversight and clearer benchmarks.
Connecticut State Treasurer Eric Russell told the Finance, Revenue and Bonding Committee on the informational forum that his office has focused on building staff capacity and changing the pension funds’ asset allocation to improve long-term returns. "Our mission in the office is very clear, and it is to get the best risk adjusted returns for our pensioners and retirees and both current and future pensioners," Russell said as he previewed a slate of reforms and performance data.
Russell said the Pension Funds Management division now includes a chief investment officer, seven principal investment officers and a larger support team, with what he described as…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
