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The board approved shifting the pension plan’s target allocation from 60% equity/40% fixed income to 58% equity/42% fixed income and reallocating assets. It also approved selling the OPEB Trust’s Transamerica assets and reinvesting them in the Vanguard Developed Markets index. The pension plan was valued at $537,837,377 and the OPEB Trust at $46,990,513 at the end of the first quarter.
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The changes put slightly more of the pension plan in bonds and less in stocks. The board also moved OPEB Trust investments away from an underperforming manager and into an existing Vanguard index fund. The meeting minutes also list retirement, refund, and vesting requests, but do not state individual approval actions for those requests.
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