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El Paso retirement fund reports $1.187 billion in assets and strong May returns
Summary
The City of El Paso Employees Retirement Trust reported approximately $1.187 billion in assets available for benefits for the period ending May 31, 2026, and strong investment performance in May and year‑to‑date returns that outpaced targets and the plan discount rate.
Jose Espino, reporting for the Office of the Controller, told the City of El Paso Employees Retirement Trust on June 17 that the fund held about $1,183,000,000 in cash and investments, $2,500,000 in receivables and $593,000 in liabilities, yielding roughly $1,187,000,000 in assets available for benefits.
“The net of the trust cumulative inflows and outflows resulted in a net positive change to the Trust net assets in the amount of $126,200,000,” Espino said, summarizing contributions, investment earnings and benefit payments for the fiscal period.
Alex Ford of Callan LLC presented the investment performance report for May, reporting an estimated one‑month gain of approximately $36–37 million that pushed the trust’s market value to nearly $1.2 billion. Ford said the fiscal year‑to‑date estimated return through May was about 14.46% and the one‑year return about 21.33%, both above the plan’s cumulative target of 5.44% and the discount rate cited to the board.
“Equities in the U.S. are up almost 19; small and mid‑cap companies are performing quite well,” Ford said, adding that certain active managers and the international allocations continued to outperform. He noted there were more recent private‑equity capital calls not yet reflected in the cash balance and that the investment committee may need to raise additional cash at its next meeting.
The reports showed monthly average benefit payments near $7.2 million and annualized benefits for April 2026 estimated at $86.3 million; administrative expenditures and refunds were also presented. Board members asked questions about the Fed outlook and what, if any, near‑term policy changes by the Federal Reserve might mean for returns.
Why it matters: The fund’s performance affects actuarial projections and long‑term funding strategy; the board will consider the investment committee’s recommendations and the impact of private‑equity calls at upcoming meetings. The trust’s financial position as presented indicates a positive net change for the reported period.
The board did not take additional formal action on the presentations at this meeting; presenters concluded after questions and the board moved to subsequent agenda items.
