Pension Fund

Facts at a Glance

As of January 1, 2024

  • Assumed Rate: 7.75%
  • Contribution Rate: 22%  (Divided equally between employee and employer)
  • Refund Rate: 498bp

As of January 1, 2023

  • Total Funded Status: 63.9%
  • Market Value of Assets: $936,268,909
  • One Year Net of Fees Return: -17.3%
  • Benefit Payments: $132,764,392
  • Total Contributions: $85,196,366
Plan Participants
  • Active Participants: 6,355
  • Retired Participants: 5,367
  • Deferred Vested: 405
  • Total: 12,127

Asset Allocation as of July 31, 2024

Type MVA Actual % Policy % Variance
US Equity Composite $168,249,966 17.6 16.5 1.1
Non-US & Global Equity $171,549,324 18.0 16.5 1.5
Private Equity $177,546,063 18.6 20.0 -1.4
Core Fixed $128,577,631 13.5 12.5 1.0
High Yield Fixed $106,604,409 11.2 12.0 -0.8
Real Estate $110,896,739 11.6 12.5 -0.9
Infrastructure Composite $55,269,544 5.8 5.0 0.8
Cash $11,428,806 1.2 0 1.2
Liquid Portfolio 25,349,051   2.7 5.0   -2.3
Plan $955,471,533 100% 100%

Consultants

Mariner
875 Green Tree Road
Seven Parkway Center, Suite 840
Pittsburgh PA 15220
Phone: 412-465-1064

Asset Strategy Consultants
Six North Park Drive, Suite 208
Hunt Valley, MD 21030
Phone: 410-528-8282
Fax: 410-528-8305

PFM Advisors
A division of PFM Asset Management, LLC
Two Logan Square
18th & Arch Streets Suite 1600
Philadelphia, PA 19103
Phone: 215-567-6100
Fax: 215-567-4180

Solicitor
Campbell Durrant Beatty Palombo & Miller, P.C.
535 Smithfield Street, Suite 700
Pittsburgh, PA 15222-2302
Phone: 412-395-1280
Fax: 412-395-1291

Actuary
Acrisure
Four Gateway Center, Suite 605
444 Liberty Avenue
Pittsburgh, PA 15222-1222
Phone: 412-394-9330
Fax: 412-394-9324

Brokerage Policy

Emerging Manager Program

Investment Policy Statement

Act 44 Disclosure