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Segal reports March pullback in retirement portfolio; board accepts monthly and trust reports
Summary
Segal consultants told the Board of Investment Commissioners that the retirement system experienced a March sell-off with quarter-to-date losses driven by equity declines and inflation-linked bond moves; the board accepted the monthly and trust reports and continued a separate item to next month.
The Board of Investment Commissioners heard a market update from Segal consultants who said the employee retirement system posted a notable pullback in March and a negative quarterly return.
Glenn Bricken of Segal, introduced by meeting leadership, opened the presentation and said the report covered activity through March 31, 2026. He told the board the S&P 500 “lost 5% of its value” during the March sell-off and noted a month return recorded as -3.13%; he added that equities subsequently recovered some ground the following week. Bricken said the retirement-system portfolio had “a negative 4.5% return” for the quarter, a decline the consultant…
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