Matter CC 24-445

Retirement Plans Investments Annual Report.

Budget & Finance Public Safety, Finance and Strategic Support Committee (PSFSS) Agenda Ready Introduced 06 Nov 2024

2 Documents on file 1.01 MB · 2 extracted · 2 AI summaries

File: CC 24-445
Type: Reports to Committee
Status: Agenda Ready
Requester: Unknown
Introduced: 06 Nov 2024
Last synced: 12 Jun 2026 · 16:20

The papers

2 documents · 1.01 MB

01 467 KB

Memorandum

467 KB Extracted AI Summary

file d353f312-9027-4826-958a-96ee8055b80d.pdf sha 2f25c4941daf source unavailable

Official source link unavailable. The file was imported, but the current source metadata does not include a public document URL.

Generated summary AI-assisted

This memorandum presents the Annual Pension and Healthcare Investment Performance Report for the Police and Fire Department Retirement Plan and the Federated City Employees’ Retirement System for the fiscal year 2023-2024. It includes recommendations to accept the report, background on investment policies, and analysis of pension and healthcare trust assets performance as of June 30, 2024.

Key points

The memorandum is addressed to the Public Safety, Finance and Strategic Support Committee.
The recommendation is to accept the Annual Pension and Healthcare Investment Performance Report.
The Federated Pension System returned 9.7% net of fees for the fiscal year ended June 30, 2024.
The Police and Fire Pension Plan also returned 9.7% net of fees for the same period.
Healthcare assets for both plans are managed in 401(h) accounts and separate Section 115 Trusts.
The Federated Healthcare Trust returned 9.4% net of fees, while the P&F Healthcare Trust returned 9.5% net of fees for the fiscal year ended June 30, 2024.

Limitations

The document does not specify the exact dates for the meetings referenced.
There are unresolved placeholders in the document, such as the section for the Chief Executive Officer and Chief Investment Officer signatures.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 5,869 chars

COMMITTEE AGENDA: ITEM: TO: PUBLIC SAFETY, FINANCE AND STRATEGIC SUPPORT COMMITTEE SUBJECT: Retirement Plans Investments Annual Report 12/5/24 (d)1 FROM: John Flynn Prabhu Palani DATE: November 20, 2024 RECOMMENDATION Accept the Annual Pension and Healthcare Investment Performance Report for the Police and Fire Department Retirement Plan and the Federated City Employees’ Retirement System for fiscal year 2023-2024. BACKGROUND As stated in the Investment Policy Statements for both the Police and Fire Department Retirement Plan (P&F Plan) and the Federated City Employees’ Retirement System (Federated System): "The Board of Administration recognizes that a stable, well-articulated investment policy is crucial to the long-term success of the System. As such, the Board members have developed this Investment Policy Statement with the following goals in mind: •To clearly and explicitly establish the objectives and constraints that govern the investment of the System's assets, •To establish a long-term target asset allocation with a high likelihood of meeting the System's objectives given the explicit constraints, and •To protect the financial health of the System through the...

02 568 KB

Presentation

568 KB Extracted AI Summary

file 30510c7f-32eb-4b7e-9112-4cce7e212f76.pdf sha 14cf0220bc0b source unavailable

Official source link unavailable. The file was imported, but the current source metadata does not include a public document URL.

Generated summary AI-assisted

The document presents information regarding the investment performance of the San Jose Federated City Employees’ Retirement System and the San Jose Police & Fire Department Retirement Plan as discussed in a Public Safety, Finance, and Strategic Support Committee meeting. It includes rankings of investment returns against peer groups, historical discount rates, and expected returns for various asset classes. The average annual return for both plans over the past 10 years is noted as 5.8%. The document also includes a disclaimer about the information's accuracy and the risks associated with investments.

Key points

The San Jose Federated City Employees’ Retirement System ranked in the top third of its peer group for year-to-date returns and at the median for the past year.
For three and five-year periods ending June 30, 2024, the Retirement System's annualized returns ranked in the top quartile and top decile, respectively.
The San Jose Police and Fire Department Retirement Plan ranked in the top half of its peer group for year-to-date and past year returns.
The average annual return for both retirement plans over the past 10 years is 5.8%.
The document includes a chart illustrating the decline in expected investment returns over the past 30 years.
A disclaimer notes that the report is prepared for the intended recipient and contains forward-looking statements that may change.

Limitations

The document contains placeholders and unresolved sections that affect the completeness of the summary.
Specific dates, votes, dollar amounts, and outcomes are not provided in the text.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 8,944 chars

San Jose Federated City Employees’ Retirement System San Jose Police & Fire Department Retirement Plan December 5, 2024 Public Safety, Finance, and Strategic Support Committee (PSFSS) Meeting BOSTON CHICAGO LONDON NEW YORK PORTLAND SAN DIEGO MEKETA.COM San Jose Federated City Employees’ Retirement System and San Jose Police & Fire Department Retirement Plan Public Safety, Finance, and Strategic Support Committee (PSFSS) Meeting Asset Allocation–The Most Important Determinant of Return Page 2 San Jose Federated City Employees’ Retirement System and San Jose Police & Fire Department Retirement Plan Public Safety, Finance, and Strategic Support Committee (PSFSS) Meeting → The San Jose Federated City Employees’ Retirement System investment return ranked in the top third of the peer group for the calendar year-to-date time period and at the median of the peer group for the past year. For the longer-term periods of three and five years ending June 30, 2024, the Retirement System’s annualized returns ranked in the top quartile and top decile of the peer group, respectively. The peer group included 95 public defined benefit pension plans with market values over $1 billion. Page 3 San...