If the other state pension funds were doing as well, we would not have a problem with raises for retirees. The problem is not with the board, but the legislature, when it comes to raises and benefits. We watched as one of the board members brought up a proposal to send all of the board members to a several day training conference in Reno. Chairman Dave Been was the first to speak against the proposal citing the trip as using money that could be spent on something more productive. He was quickly followed by others and the proposal died.
State law requires that there is a limit on the percentage of funds in various markets.
Our board complies with the requirements, but does move money around to our best advantage. Some of our money has been invested in the global market. We watched as the board voted to pull 100 million from a few companies who were not performing over the market average and move it to higher return companies in the same types of markets. The financial advisors also discussed three options for the board to consider presenting to the legislators for raises. Another would be tied to the consumer price indexes and buying power based on individual assessments.