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GERS treasurer and investment officer flag cash deficit, declining asset trend
Summary
GERS officials reported a February net cash deficit and year-to-date shortfall of roughly $9.34 million and described market performance that produced mixed returns; investment staff reported an ending market value near $500.5 million and described allocations and withdrawals made to meet benefits.
GERS officials told trustees March 26 that the plan experienced a net cash deficit in February and a year-to-date deficit that the treasurer reported as roughly $9.34 million, and they urged continued attention to funding and contribution policy.
Treasurer Ali provided monthly and year-to-date collection figures, annuity disbursements and administrative expenses, and said the fund’s cash position…
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