Pension Matters

State Employees Retirement Fund
Most Recent Market Value | Michigan Treasury Bureau of Investments

2017

October

State Treasurer Nick Khouri announced recently that the state of Michigan successfully sold nearly $120 million in General Obligation Environmental Program bonds...

September

The quarterly meeting of the IAC was held on Thursday, September 9th. Guest presenter was David. Lebovitz Vice President - Global Market...

August

According to the National Public Pension Coalition, “The so-called pension crisis is a myth promoted by people who are either hostile to public employees, have a financial interest...

July

In last month’s newsletter I wrote about new security measures being put into place by Social Security in June which will require a security code for admission...

June

Starting June 10, the Social Security Administration will require you to choose a second identification method to log into your My Social Security online account. You’ll have to provide...

May

Business Leaders for Michigan, headed by President and CEO Doug Rothwell, issued a recent report indicating Michigan should no longer offer government workers...

April

I attended the March Investment Advisory Committee Meeting. Both Jon Braeutigam and Greg Parker provided an update...

March

Michigan Treasurer Nick Khouri today announced Michigan’s Chief Economist Jay Wortley is retiring effective Feb...

February

If legislators are able to get a repeal of the current pension tax on the governor’s desk, it will not get his signature...

January

Since I am always interested in pension issues, I couldn’t help but read the article in the Lansing Journal about...

2016

December

Michigan’s Republican-led Legislature will not vote this year on controversial plans to limit retiree health care benefits for local government...

November

Remember, you can also find a wealth of Pension related information on the Department of Treasury, Bureau of Investment web site...

October

A new study out from Center for Retirement Research at Boston College indicates that for many states, counties and cities, the “pension benefits “ sky is not falling. Their findings suggest that...

September

At the June, 2016 Investment Advisory Meeting, Mr. Braeutigam advised the board that the rate of return for...

August

When it comes to retirement finances, workers have two top concerns; that their pensions be reliable...

July

A recent article in Pensions and Investments indicates the “in sourcing” trend is up to save on the high cost of fees. Both ...

June

Having been on vacation during the past two weeks of May in beautiful Monterey, CA., this month’s Pension Matters will be short and sweet. Be back in full swing next month...

May

Chief Investment Officers (CIO) of some of the largest U.S. pension funds acknowledged they have little hope of earning their assumed...

April

Kerri Vanden Bosch, new Director of ORS, spoke to the CC in March. ORS administers retirement programs for public school employees, judges, state police, and National Guard members...

February

Jon Braeutigam, Chief Investment Officer and Robert Brackenbury, Senior Director of Investments gave us an update on the State Employees Retirement System (SERS) Pension Fund. The Bureau of Investment, in the department of Treasury...

January

Lansing SERA would like to congratulate Kerrie Vanden Bosch in her new role at ORS. The Department of Technology, Management and Budget has named her as its new director, as current Director Phil Stoddard will be retiring in February...

2015

December

I attended this year’s final meeting of the IAC on December 1, 2015. After several years of double digit returns this most recent one year return was 2.6 percent, significantly lower than what we had seen but which was still somewhat better than its peers. Overall the fund had...

November

Governor Snyder recently signed Executive Order 2015-13, which puts the management of the state’s three retirement systems under one consolidated administration, and creating a new Retirement Board...

October

Highlights of a new analysis by the nonpartisan Employee Benefit Research Institute (EBRI) report on IRA investments. The full report is published in the September 2015 EBRI Notes and online...

September

Mary Pollock and I had an opportunity to meet with BOI staff Jon M. Braeutigam, CIO and Deputy Treasurer; Robert Brackenbury,  Director of Investments – Private Markets; and Greg Parker, Director of Investments – Public Markets and Director of Asset Allocation  to discuss...

July

The total market value of the retirement fund, as of December 31, 2014, was $60.7 billion. While the U. S. dollar is strengthening, it is not yet as strong as in the past. If the dollar continues to strengthen...

June

At its meeting on Thursday, May 21, the State Employee Retirements System Board heard from its actuaries about the financial health of both the pension fund and the state employee retiree health care trust fund...

May

The OAG issued the Comprehensive Annual Financial Reports (CAFR) for the State’s public retirement systems...

April

Gov. Rick Snyder recently named Nick Khouri, current Senior Vice President at DTE Energy to be his new state treasurer, replacing Kevin Clinton...

March

I attended the March 5th meeting of the IAC. The Executive Summary indicated markets have rebounded strongly from the 08-09 financial recession...

2014

December

I attended the final meeting of the year for the IAC on December 2nd. The yearend review showed a great year for the State pension funds. The annualized one year return was...

October

The following is taken from the Executive Summary presented at the September, 2014...

May

The funds asset allocation continues to be heavily focused in domestic equities, followed by alternative investments and international equities...

April

The Investment Advisory Committee met on March 6, 2014 for its first meeting of the year. This past year was hailed as a very good year, with...

March

Fitch Ratings agency on Monday said Snyder’s proposal to contribute $350 million in state aid toward Detroit’s unfunded pension liability...

See archived Pension Matters and Market Altimeter issues.