A note from PERA's Chief Investment Officer
Dear PERA Members,
Given the recent volatility and downturn in the stock market, I thought it would be a good time to remind our members how our investment program is structured and why. The defined benefit plan, or PERA fund, is designed for the long-term. Meaning, the PERA Board approved a long-term Strategic Asset Allocation (SAA), which the investment staff allocates to various active and passive investment managers. The SAA is designed to be a well-diversified portfolio, that will only change every 3-4 years. This is opposed to a Tactical Asset Allocation (TAA), which may be changed constantly depending on the staff’s view of market conditions and the macroeconomic environment. To read more, click the link below.
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