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PARS and asset manager brief Pleasant Hill committee on 115 pension trust performance
Summary
PARS and PMM Asset Management updated the Pleasant Hill Budget Committee on the city's IRS-approved 115 trust: contributions and an account balance of roughly $2.25'$2.3 million, inception-to-date annualized returns of about 7%, and a moderately conservative 30/70 target allocation. No withdrawals have been made; policy changes would be required to permit withdrawals.
Rachel Sanders of PARS told the Pleasant Hill Budget Committee on April 4 that PARS serves as the ongoing trust administrator for the city's IRS-approved 115 trust and that US Bank is trustee. "We basically manage and monitor all of the arm and administration as it relates to the trust," Sanders said, explaining the trust allows the city to move assets from its general fund into an irrevocable account for pension-related expenses.
Sanders and Ashley Byers of PARS reported that the pension side has…
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