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