Benchmark trends among large public defined benefit pension plans (Pensions & Investments)

October 2013

KEYWORDS: Public Pension, pensions, defined benefit pension, assets under management, S&P 500, index, Equity markets, MSCI, portfolio diversification, CalPERS, California, fixed income, Pennsylvania Public School Employees’ Retirement System, benchmark, Private Equity, hedge funds, Hedge Fund Research, New York City Retirement Systems, State of Wisconsin Investment Board, New Jersey Division of Investment, real estate asset managers, Virginia Retirement System

Authors:

Aaron M. Cunningham, CAIA; Peter Charney

Organizations:
  • Pensions & Investments

Summary:

Asset class benchmarks have a vital role for trustees and pension fund staff. Pensions & Investments collected benchmark usage information from the annual reports, investment policy statements and direct contact of the 50 largest public defined benefit plans in the U.S. This executive summary provides commentary and information on benchmark usage of the funds by main asset classes. The 50 plans oversee more than $2.4 trillion in assets.

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