Asset Allocation
The Board of Trustees reviews the allocation of the investment portfolio as part of its annual review of its investment portfolio in its entirety.
Investment Policy approved on April 9, 2026
The asset allocation policy is as follows:
Asset Allocation Policy
| Core Investments | 44.0% |
| Strategic Investments | 33.0% |
| Illiquid Investments | 23.0% |
| Total | 100% |
| Total Plan Expected 10-year Annualized Return* | 7.80% |
| Exepected 10-year Annualized Volatility* | 9.73% |
* Allocation, performance expectation, and risk projection are based upon Marquette Associates', the retirement system's investment consultant, August 2025 assumptions.
Caveats:
In the absence of suitable opportunities within a specific market, the funds shall be directed to the other components within the debt or equity category. Due to the fluctuation of market values, positioning within ±7.5% of the Core and Strategic Investments target and within ±15% of Illiquid Investments shall constitute compliance with the policy. A review of the asset allocation shall occur periodically to allow the Board of Trustees to consider the effect of any changes in market conditions or of the expectations for the retirement system.