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Board of Pensions outlines investment-fee savings and staffing/cost drivers
Summary
The Board of Pensions explained a lower assumed return rate to reduce risk, reported investment-fee savings below the national average and said local and diverse-manager participation remains a priority; board indicated projected professional-services costs tied to investment activity.
Francis (Fran) Bialy, representing the Board of Pensions, described investment and operational items for the board’s FY27 budget. Bialy said the board has reduced its assumed return rate to limit risk and that the fund’s investment-fee ratio is about 0.24%, below the national average of 0.73%.
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