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Morgan Stanley presenter: Pension plans posted double‑digit fiscal‑year returns
Summary
A Morgan Stanley presenter told municipal officials the town and police pension plans returned 12.22% and 12.18% respectively for the fiscal year; the actuary said those returns are helping close the gap vs. a 6.5% liability valuation.
A Morgan Stanley presenter told the meeting that both municipal pension plans produced strong returns this fiscal year, reporting "12.22 for the town, 12.18 for the police," and described broad market strength across equities and emerging markets.
The presenter framed the performance against recent market rally drivers — large-cap technology and an AI-led spending cycle — and warned that inflation and sector concentration remain risks. "Inflation numbers are not where we need it to be," the presenter said, noting market breadth and corporate earnings as context for the gains.
Actuary input at the meeting noted the portfolio's recent quarterly return of about 8.8% and an annual return near 12%, and compared those to the liability valuation: "you value your liabilities at 6.5 percent," the actuary said, adding that the portfolio "is making up ground by the portfolio here." The combination of gains and actuarial assumptions was discussed as a factor in funded‑status trajectories.
The meeting did not record a formal vote tied to these figures; presenters recommended continued monitoring of manager performance and asset allocation in light of elevated sector concentration.
Next steps: staff and advisors will continue quarterly monitoring and report back on manager-level attribution at future meetings.
