Rockledge retirement fund posts quarterly gain; consultant says no rebalancing needed

Tyler Grumbles of Mariner Consulting told the Rockledge General Employees’ Retirement Board on Jan. 30 that the plan returned +2.10% for the quarter (net of fees), producing a quarter-ending balance of $29,214,753 as of Dec. 31, 2025.

Grumbles presented an economic overview and performance detail, saying inflation pressures eased and labor-market momentum softened, and noting recent Federal Reserve action: "In December, the Federal Open Market Committee reduced the federal funds target range by 0.25% to 3.50%–3.75%," the presentation states. The quarter’s market-value investment return was 13.15% in the valuation period, and the plan’s market value was reported at $27,691,494 in the actuarial materials discussed at the meeting. Grumbles told trustees that no portfolio rebalancing was needed at this time and flagged an upcoming Harrison Street capital call that will take the plan to its target allocation. He also recommended reviewing an option to invest with Cohen & Steers at the next board meeting.

The board reviewed cash flow, performance attribution and asset-concentration considerations as part of Mariner’s quarterly update. No votes were taken on investment reallocations; trustees said they plan to revisit the Harrison Street commitment and the Cohen & Steers option at a future meeting.

In other business, Plan Administrator Julie Enright presented retirement-fund expenditures and receipts for the fiscal quarter ending Dec. 31, 2025. Trustee Elon Poole moved to acknowledge the report; Trustee John Cooper seconded and the motion carried unanimously.