News Flash

Pension & Benefits

Posted on: April 20, 2021

Police and Fire Retirement (PFRS) Board Meeting

At the April 12 Police and Fire Retirement (PFRS) board meeting, the PFRS Board’s Investment Committee noted they were reviewing the illiquid assets in the portfolio and status of comingled accounts.

The Board favorably reported on the recommendation from Investment Committee. It adopted the resolution to Implementation of Asset Allocation which directed the Division of Investments to remove Home Mortgage Finance Agency (HMFA) investments from comingled accounts and that the Division of Investments separate PFRS assets in a stand-alone account by July 31, 2021.

The PFRS’ Chief Investment Officer noted that the Division of Investments performance of illiquid assets was down 100 basis points over the past year and down 170 basis points over the past 3 to 5 years.

Contact: Paul Penna, Legislative Analyst, ppenna@njlm.org, 609 695-3481, x110.

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