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 April 30, 2024

Type MVA Actual % Policy % Variance
US Equity Composite $162,600,467 17.5 16.5 1.0
Non-US & Global Equity $161,961,194 17.4 16.5 0.9
Private Equity $180,626,937 19.4 20.0 -0.6
Core Fixed $122,861,988 13.2 12.5 0.7
High Yield Fixed $103,369,063 11.1 12.0 -0.9
Real Estate $111,949,643 12.0 12.5 -0.5
Infrastructure Composite $54,807,849 5.9 5.0 0.9
Other $32,291,402 3.4 5.0 -1.6
Plan $930,468,543 100% 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