Investment manager Sarah Wilson tells retirement board portfolio is on track amid market volatility

Sarah Wilson, identified in the meeting as the retirement board’s investment manager, told members on Feb. 19 that the pension portfolio had a net return of 2.2% for the most recent month and a reported portfolio value of $101,292,111.46 as of Jan. 31, 2026.

Wilson said the fund’s one-year performance outpaced its actuarial rate and highlighted recent changes in manager structure and fees, including a move of a global manager into a collective investment trust with lower fees. She said defensive equity and infrastructure allocations contributed positively while small-cap managers lagged amid a difficult market for smaller firms.

Why it matters: the board pays roughly $5.3 million a year in retirement benefits, a steady withdrawal that the manager said the fund must plan around. Wilson urged a scheduled actuarial review and suggested the board consider tactical cash-management or modest allocation adjustments so the plan does not have to sell into a downturn.

Board members asked about manager oversight and fees. Wilson noted a recent reduction in fees for one global manager and said the team communicates weekly with managers and monitors personnel changes that might trigger manager replacement.

During new business the board voted to recommend hiring Foster and Foster for actuarial services. The motion was seconded and carried on the recorded roll call.

The retirement board scheduled follow-up work: an actuarial review and a possible education session to consider stress testing the current allocation and to discuss whether any tactical changes are warranted.