EMPLOYEE PENSION PLAN BOARD OF TRUSTEES MEETING
EMPLOYEE PENSION PLANBOARD OF TRUSTEES MEETINGTUESDAY, MAY 25, 20213:00 PM300 WEST WAUGH ST - COUNCIL CHAMBERSAGENDACall To OrderMinutes1.Pension Minutes 03-23-2021Unfinished Business2.Investment Performance Analysis - April 30, 2021New Business3.Attorney UpdateRetirees4.Byron Duncan - Dalton Utilities5.Wade B. Hart - Dalton UtilitiesInvoices6.Southern Actuarial Services invoice for 1/1/21 actuarial valuation ( 15,000.00)7.Invoices #209 and #210 ( 2,040.00 ea.) for April & May SEAS services.Reports8.Comparative financial report for period ended 3-31-21.9.Financial Report for 4-30-2110.First Quarter Minimum Balance Requirement - MetLife11.Market Indices Performance - March 31, 2021Adjournment1
THE CITY OF DALTONEMPLOYEES PENSION PLAN – BOARD OF TRUSTEESREGULAR MEETINGMARCH 23, 2021The regular meeting of the Board of Trustees of the City of Dalton Employees' Pension Plan washeld this afternoon at 3:00 p.m. in the Council Chambers of City Hall. Present for the meetingwere Chairman Gary Hill, Trustees Dwayne Carvell, Mike Sloan, Vernon Ray, Chairman of theWater, Light & Sinking Fund Commission Joe Yarbrough. Mayor David Pennington, Councilmember Annalee Harlan Trustees were absent.MINUTESThe Trustees were presented written copies of the minutes of the meeting of January 26, 2021.On the motion of Trustee Carvell, second Trustee Ray, the minutes were approved. The votewas unanimous in favor.INVESTMENT PERFORMANCE ANALYSIS - FEBRUARY 28, 2021Hilda Thompson from SEAS addressed the Board on the Final 12-31-20 Report stating that thePlan had a great Return that was just over 13%. Thompson further reviewed the InvestmentPerformance Analysis dated February 28, 2021 stating that the calendar year to date has somemonths have been up and others negative. She stated the value of the Plan has gone from 140,901,950 to 141,391,836, further stating the Total fund return is at 1.3% for the month.Thompson stated the Quarter to date is 0.8% which is slightly positive. Thompson stated that thePlan should see a positive quarter. On the motion of Trustee Sloan, second Trustee Yarbrough,the Report was approved.CHUCK CARR - SOUTHERN ACTUARIAL SERVICESChuck Carr from Southern Actuarial Services highlighted parts of the City of Dalton Employees’Pension Plan Actuarial Valuation dated 01-01-21. Carr stated the Report is a look back to theprevious year. He stated that there are no plan changes or assumption changes in the Report. Carrreminded that last year the Board voted to extend the amortization period from 10 years to 20years. Carr further reported that the same 6.75% assumption rate was used and also the updatedmortality rate from the previous year.Carr stated as of 1-1-21 the Plan was just under 141 million in market value assets. Carr statedthe Return for last year was 13.21%. Carr further reviewed the 10 year Historical Trust FundDetail and the Sensitivity Analysis which basically answers “What happens if we don’t make theassumption of 6.75% each year” Carr stated the graph illustrates the sensitivity of thecontribution rate to changes in the long term investment return, stating that basically if the planearns an extra 1 percent on average, the contribution rate could possibly be cut in half in the longterm.Carr reported that the Valuation determined that the minimum required contribution for 2021 is 3,251,149.00. On the motion of Trustee Yarbrough, second Trustee Carvell, the Boardpostpone acceptance of the report to answer any additional questions. The vote was unanimousin favor. A copy of this report is a part of these minutes.2
Employee Pension PlanPage 2March 23, 2021ATTORNEY UPDATEChairman Hill introduced newly appointed City Attorney Terry Miller.RETIREESStan Maney - Fire Department(1) On the motion of Trustee Sloan, second Trustee Carroll, the Board ratified payment to StanManey - Fire Department. Copies of the application for retirement, retirement benefitcalculations and Authorization to Commence Retirement Payment forms are a part of theseminutes. The vote was unanimous in favor.Alethea Brown - Police Department(1) On the motion of Trustee Carroll, second Trustee Hill, the Board ratified payment toAlethea Brown - Police Department. Copies of the application for retirement, retirement benefitcalculations and Authorization to Commence Retirement Payment forms are a part of theseminutes. The vote was unanimous in favor.Daniel Findlay - Dalton Utilities(1) On the motion of Trustee Yarbrough, second Trustee Carroll, the Board ratified payment toDaniel Findlay - Dalton Utilities. Copies of the application for retirement, retirement benefitcalculations and Authorization to Commence Retirement Payment forms are a part of theseminutes. The vote was unanimous in favor.InvoicesINVOICESThe Trustees reviewed the following invoices:On the motion of Trustee Sloan, second Trustee Hill, the following invoice was approved:Invoice #2020-12-011 ( 137.70) from Law Office of Gargandi Vaughn, LLC - Pension Services.The vote was unanimous in favor.On the motion of Trustee Yarbrough, second Trustee Carvell, the following invoices wereapproved:Invoices #207 ( 2,040.00), #208 ( 2,040.00) for January & February SEAS services.The vote was unanimous in favor.REPORTSMarket Indices Performance - January 31, 20213
Employee Pension PlanPage 3March 23, 2021ADJOURNMENTChairman Hill thanked everyone for coming. There being no further business to come before thetrustees, the meeting was adjourned at 3:25 p.m.Gary Hill, ChairmanATTEST:Mike Sloan, SecretaryRECORDEDAPPROVED4
City of DaltonCity of alysisAnalysisApril 30, 2021April 30, 20215
City of DaltonTotal Fund Allocation By ManagerTotal FundApril 30, 2021MetLife Core Bond Index Fund 37,855,319 25.45%Goldman Sachs Fund 12,344,833 8.30% 148,715,424Cash Account 611,721 0.41%MetLife Equity Index 20,372,009 13.70%Vanguard Total Bond Mkt Index 11,227,713 7.55%Vanguard Inst 500 Index 47,814,528 32.15%1Vanguard Small-Cap Index 18,489,300 12.43%6
City of DaltonPerformance Summary TablePeriods Ending 4/30/21ManagerTotal Large Cap EquityTotal ReturnStandard & Poors 5001 MoQTDYTD1 Year3 Yrs5 Yrs10 7.3817.4214.1414.17MetLife Equity IndexTotal ReturnStandard & Poors 7.5417.4214.2214.17Vanguard Inst 500 IndexTotal ReturnStandard & Poors otal Small Cap EquityTotal ReturnRussell 16.5916.4811.7311.63Vanguard Small-Cap IndexTotal ReturnCRSP Small Cap 4Total Fixed IncomeTotal ReturnBarclays U.S. 193.173.193.393.39MetLife Core Bond Index FundTotal ReturnBarclays U.S. .193.143.19Goldman Sachs FundTotal ReturnBarclays Int .713.242.80Vanguard Total Bond Mkt IndexTotal ReturnBBG Barc U.S. .19-0.000.00-0.000.000.000.030.000.110.221.45Cash AccountTotal Return91-Day Treasury Bill20.261.180.190.637
City of DaltonPerformance Summary TablePeriods Ending 4/30/211 MoQTDYTD1 Year3 Yrs5 Yrs10 YrsTotal FundTotal ReturnPolicy 411.9610.6710.368.868.78Indices91-Day Treasury Bill0.000.000.030.111.451.180.6338
CITY OF DALTON EMPLOYEE’S PENSION PLANINVESTMENT PERFORMANCE ANALYSISFIRST QUARTER 2021Note: For a copy of Part II of Southeastern Advisory Services, Inc.’s most recent Form ADV please write:Southeastern Advisory Services, Inc., 3495 Piedmont Road, NE, Bldg. 12-202, Atlanta, GA 30305, or e-mailyour request to kit@seadvisory.com. Part II of Form ADV will be mailed within seven (7) days upon receiptof the request.Hilda A. Thompson, Senior ConsultantWallace W. Wilson, Senior ConsultantSoutheastern Advisory Services, Inc.3495 Piedmont Road, NEBldg. 12-202Atlanta, Georgia 30305TEL: (404) 237-3156FAX: (404) 237-26509
Executive SummaryCity of Dalton Employee’s Pension PlanQuarter Ending March 31, 2021I. MARKET ENVIRONMENTIndexStandard & Poor’s 500 IndexFirst Quarter6.2%1 Year56.4%3 Year16.8%Russell 2000 Index12.7%94.9%14.8%MSCI EAFE Index (Net)3.5%44.6%6.0%NCREIF Index1.7%2.6%4.9%CS Hedge Index2.9%20.2%4.8%BBG Barc U.S. Aggregate-3.4%0.7%4.7%91 Day Treasury Bills0.0%0.1%1.5%Consumer Price Index (NSA)1.7%2.6%2.0%Inflation indexes have been on the rise during the past few months, with growth rates meaningfully above 2%. Part of the jump in prices is due todepressed prices six months earlier, but the most recent observations suggest that there are new inflationary pressures within the U.S. economy.A jump in energy prices accounted for more than two-thirds of the increase in the Producer Price Index (PPI) in February, while both gasoline andfood prices weigh on consumers. The big question with the accelerating PPI is whether goods producers will be able to increase prices while thelabor market continues to recover. Investors are expecting at least some continued inflation as the 10-year breakeven inflation rate equaled 2.4%at quarter-end, the highest level in more than five years. Fed Chair Jerome Powell does not expect much higher inflation in the near-term and theFederal Reserve will likely remain patient regardless of price increases above their 2% target.Equities:The U.S. stock market, represented by the S&P 500, was up 6.2% for the first quarter of 2021. All eleven sectors were inpositive territory with Energy (30.7%) and Financials (16.0%) representing the best performing sectors. The main laggardthis quarter, Technology (2.1%), is also the largest U.S. sector at 27% of the Index.Fixed Income:The U.S. Treasury yield curve was up significantly across most maturities during the first quarter, with the long endapproaching pre-COVID levels. The 10-year Treasury yield ended the quarter at 1.7%, up .8% from December. Credit spreadstightened with the spread on the broad high yield market closing the quarter at 3.1%. The Federal Open Market Committeemet twice during the quarter, as scheduled, with no change to their overnight rate. Although some members expect ratehikes in the next two years, the median forecast is for no rate changes through 2023. Consumer price changes acceleratedduring the first quarter, with modest gains for the past twelve months. The Consumer Price Index was up 1.7% for the threemonths ending March, and up 2.6% for the one-year period.Alternatives:Global hedge fund industry assets swelled to a new record high of 3.8 trillion in 1Q21 as managers recorded their strongestquarter since 2000. Investors poured more capital into a broad selection of hedge strategy types, with the biggest fundstaking the largest slice of new allocations. While fixed income portfolios posted losses in 1Q21, commercial real estaterepresented valuable diversification as most real asset managers wrote up property values. Hedge Week110
II.P OR T FO L IO G R OW T H - P E R I O DENDEDM A R C H 31, 2021150.0Total Fund140.0Policy IndexNet Cash Flow OnlyMarket Value (In c-19Mar-20Jun-20Sep-20Dec-20Mar-21209/16Beginning Value 09/17Net Cash 92051,601-449-15203/1809/18Net 5.55410,5593,41703/1909/19Ending Value 5%8.1%2.4%03/21Fiscal YrReturn8.0%12.7%-2.8%19.9%13.2%2.4%11
III. Market ValuesManagerMarket Values as of 12/31/2020Market Values as of 3/31/2021MetLife Equity Index 18,338,135 19,381,320Vanguard Inst 500 Index 42,752,686 45,393,125Vanguard Small-Cap Index 16,122,712 17,771,302MetLife Core Bond Index Fund 38,992,068 37,597,490Vanguard Total Bond Index 11,536,930 11,120,473Goldman Sachs Fund 12,557,451 12,295,274 601,968 608,135 140,901,950 144,167,119CashTotal FundAsset Mix Policy – at market valueAsset Domestic – Large Cap35.0%40.0%50.0%Within RangeDomestic – Small Cap5.0%10.0%20.0%Within RangeFixed Income – Core30.0%37.5%50.0%Within RangeFixed Income - Intermediate0.0%12.5%25.0%Within RangeCash Equivalents0.0%0.0%5.0%Within RangeAs of March 31, 2021As of December 31, 2020Vanguard SC11.4%MetLife-Core BondFund27.7%Vanguard 50030.3%MetLife-S&P 500Fund13.0%3Vanguard SC12.3%MetLife-Core BondFund26.1%Vanguard Total Bond8.2%Vanguard Total Bond7.7%MetLife- GS IntermFund8.9%Cash0.4%MetLife- GS IntermFund8.5%Cash0.4%Vanguard 50031.5%MetLife-S&P 500Fund13.4%12
IV. PERFORMANCE COMPARISONS (Gross of Fees)A. Total Fund AnalysisTotal Fund vs.Total Fund Universe1st QuarterReturn1 YearReturn3 YearsReturn5 YearsReturnTotal Fund2.4%/58th29.0%/64th10.9%/19th10.1%/42ndPolicy y Index: Effective 1/01/2016: 40% S&P 500, 10% Russell 2000, 37.5% Barclays Aggregate, 12.5% Barclays Interm Govt/Credit. Effective1/1/05-12/31/2015: 40% S&P 500, 15% Russell 2000, 45% Barclays Aggregate. Prior to 1/1/05: 40% S&P 500, 10% Russell 2000, 50% LehmanAggregate. Prior to 4/1/00: 30% S&P 500, 10% Russell 2000, 60% Lehman Aggregate.B. Equity Fund AnalysisSegment1st QuarterReturn1 YearReturn3 YearReturn5 YearReturnTotal Large Cap fe Equity rd Inst 500 Index (Incept 8/19/2016)6.2%/79th56.3%/43rd16.6%/39thN/AS&P 5006.2%/7956.4%/4316.8%/2916.3%/27thManager1st QuarterReturn1 YearReturn3 YearsReturn5 YearsReturnTotal Small Cap uard Small-Cap Index (Incept 8/19/2016)10.2%/99th87.8%/20th15.0%/42ndN/ACRSP Small Cap er1st QuarterReturn1 YearReturn3 YearsReturn5 YearsReturnTotal Fixed Income-3.2%/48th1.2%/91st4.7%/87th3.1%/97thMetLife Core Bond Index Fund*-3.4%/65th0.4%/99th4.6%/87th3.1%/97thVanguard Total Bond Index-3.6%/75th0.6%/95th5.0%/77thN/ABBG Barc US Aggregate-3.4%/59th* Vanguard Total Bond Fund inception date: April 26, 2018.0.7%/93rd4.7%/87th3.1%/97ththrdthC. Fixed Income Fund AnalysisManager1st QuarterReturn1 YearReturn3 YearsReturn5 YearsReturnGoldman Sachs Interm Bond Fund*-1.9%/66th4.4%/23rd4.9%/17th3.2%/25thBBG Barc Intermediate Govt/Credit-1.9%/67th2.0%/76th4.4%/65th* MetLife Core Bond Index Fund and Goldman Sachs Intermediate Fund inception date: September 28, 2015.2.8%/72nd413
D. Cash AnalysisV.5Manager1st QuarterReturn1 YearReturn3 YearsReturn5 YearsReturnCash y ZED RETURN SINCE INCEPTIONFundFund ReturnIndex ReturnMetLife Equity Index (4/1/00)6.8%6.8%Vanguard Inst 500 Index (8/19/16)16.2%16.3%Vanguard Small-Cap Index (8/19/16)14.8%14.7%MetLife Core Bond Index Fund (9/28/15)3.2%3.3%Vanguard Total Bond Index (4/26/18)5.1%5.1%Goldman Sachs Interm Fund (9/28/15)3.2%2.8%Total Fund (1/1/99)6.2%6.6%14
Historical Annual Returns6YearTotal Fund MarketValue ( Million)Total FundGross ReturnBenchmarkReturnActuarialAssumption1999 42.01.7%8.0%8.5%2000 42.91.2%1.6%8.5%2001 43.5-0.1%0.4%8.5%2002 40.8-6.2%-6.0%8.5%2003 48.317.5%17.9%8.5%2004 52.28.4%8.4%8.5%2005 54.44.2%3.8%8.5%2006 60.710.8%11.0%8.5%2007 61.75.1%5.2%8.5%2008 50.4-16.4%-18.9%8.5%2009 54.615.3%17.7%8.5%2010 60.411.8%13.5%7.5%2011 61.64.5%4.5%7.5%2012 66.29.8%10.8%7.5%2013 75.115.5%16.7%7.5%2014 83.38.9%9.0%7.0%2015 84.70.4%0.4%7.0%2016 92.08.0%8.1%7.0%2017 103.912.7%11.6%7.0%2018 101.5-2.8%-2.3%6.75%2019 122.519.9%19.0%6.75%2020 140.913.2%13.9%6.75%2021 YTD 144.22.4%2.2%6.75%15
Annual Fee EstimateManagerMetLife Large Cap Core IndexVanguard Inst 500 IndexVanguard Small-Cap IndexMetLife Core Bond IndexVanguard Total Bond IndexGoldman Sachs Intermediate Fixed Inc7Fee Schedule.18% on first 5 mil.075% on next 5 mil.05% on balance.04% on balance.07% on balance.10% on first 25 mil.08% on next 25 mil.06% on balance.04% on balance.55% on first 2.5 mil.50% on next 2.5 mil.45% on next 5 mil.40% on next 15 mil.30% on next 50 mil.20% on next 75 milEstimated Annual BasisPoint Fee947944716
City of Dalton Employee’s Pension PlanCumulative Performance ComparisonTotal Returns of Total Fund PortfoliosPeriods Ending 3/2150%45%40%35%30%T 125%20%15%T 110%T 15%0%T 1-5%High1st QtMedian3rd QtLowT Total FundReturnRank1 Policy IndexReturnRank8LastQtrLast 2QtrsLast 3QtrsLast 417
City of Dalton Employee’s Pension PlanConsecutive Performance ComparisonTotal Returns of Total Fund PortfoliosYears Ending50%45%40%35%30% 1T25%20%15%10%5%0%-5%-10%-15%High1st QtMedian3rd 22759.4560-0.02269.071212.06419.80427.329T Total FundReturn28.98Rank641 Policy IndexReturn29.21Rank649T1T118
City of Dalton Employee’s Pension PlanCumulative Performance ComparisonTotal Returns of Total Fund PortfoliosPeriods Ending 15%0%High1st QtMedian3rd QtLowLastYearLast 2YearsLast 3YearsLast 4YearsLast 5YearsLast 6YearsLast 7YearsLast 8YearsLast 9YearsLast 409.88458.17358.30328.76358.87358.7232T Total FundReturn28.98Rank641 Policy IndexReturn29.21Rank641019
City of Dalton Employee’s Pension PlanReturn vs RiskTotal Returns of Total Fund Portfolios3 Years Ending 3/31/21MedianRisk13.913.0Annualized Rate of 2.04.46.89.211.614.016.418.821.223.626.0Historical Standard Deviation of ReturnT1Annualized ReturnValueRank10.941910.93199.65Total FundPolicy IndexMedianStandard DeviationValueRank12.383812.153214.175 Years Ending 3/31/21MedianRisk13.913.0Annualized Rate of 4.05.46.88.29.611.012.413.815.216.618.0Historical Standard Deviation of ReturnT111Total FundPolicy IndexMedianAnnualized ReturnValueRank10.08429.88459.43Standard DeviationValueRank9.62389.423310.9220
City of Dalton Employee’s Pension PlanLarge Neutral Cumulative Performance ComparisonsTotal Returns of Equity PortfoliosPeriods Ending High1st QtMedian3rd QtLowL E V SL E V SL E V SL E V SLastQtrLast 2QtrsLast 3QtrsLast 29.707056.344319.076629.716856.3543L Total Large Cap EquityReturn6.17Rank81E MetLife Equity IndexReturn6.14Rank85V Vanguard Inst 500 IndexReturn6.18Rank79S Standard & Poors 500Return6.18Rank791221
City of Dalton Employee’s Pension PlanLarge Neutral Consecutive Performance ComparisonsTotal Returns of Equity PortfoliosYears Ending80%70%60%LEVS50%40%30%LE S20%10%LEVSLEVSLE SLE SLE SLE SLE S0%LEVS-10%-20%High1st QtMedian3rd 548.5336L Total Large Cap EquityReturn56.45-7.04Rank4125E MetLife Equity IndexReturn56.71-7.16Rank4127V Vanguard Inst 500 IndexReturn56.34-7.00Rank4325S Standard & Poors 500Return56.35-6.98Rank43251322
City of Dalton Employee’s Pension PlanLarge Neutral Cumulative Performance ComparisonsTotal Returns of Equity PortfoliosPeriods Ending 3/2175%70%65%60%55% LEVS50%45%40%35%30%25%20%15%10%5%High1st QtMedian3rd QtLowLEVSLEVSLE SLE SLE SLE SLE SLE SLastYearLast 2YearsLast 3YearsLast 4YearsLast 5YearsLast 6YearsLast 7YearsLast 8YearsLast 9YearsLast 2713.742313.602714.603314.532513.9125L Total Large Cap EquityReturn56.4520.60Rank4133E MetLife Equity IndexReturn56.7120.62Rank4133V Vanguard Inst 500 IndexReturn56.3420.58Rank4335S Standard & Poors 500Return56.3520.60Rank433314LEVS23
City of Dalton Employee’s Pension PlanSmall Neutral Cumulative Performance ComparisonsTotal Returns of Equity PortfoliosPeriods Ending 3/21100%90%S SC80%70%60%50%S S40%S SCC30%20%10%S SC0%High1st QtMedian3rd QtLowLastQtrLast 2QtrsLast 3QtrsLast 055055.365094.85740.089948.186587.6820S Total Small Cap EquityReturn10.23Rank99S Vanguard Small-Cap IndexReturn10.23Rank99Russell 2000Return12.70Rank71C CRSP Small Cap IndexReturn10.21Rank991524
City of Dalton Employee’s Pension PlanSmall Neutral Consecutive Performance ComparisonsTotal Returns of Equity PortfoliosYears Ending110%100%90% st QtMedian3rd QtLowSSS CCSSS CSCCSSCCSS 71151.5754S Total Small Cap EquityReturn87.78-23.34Rank2040S Vanguard Small-Cap IndexReturn87.78-23.34Rank2040Russell 2000Return94.85-23.99Rank750C CRSP Small Cap IndexReturn87.68-23.38Rank204016SC25
City of Dalton Employee’s Pension PlanSmall Neutral Cumulative Performance ComparisonsTotal Returns of Equity PortfoliosPeriods Ending 3/21100%90%SS C80%70%60%50%40%30%20%SS C10%SS CSS CSCSCSCSCSCSC0%High1st QtMedian3rd QtLowLastYearLast 2YearsLast 3YearsLast 4YearsLast 5YearsLast 6YearsLast 7YearsLast 8YearsLast 9YearsLast 1.435711.205012.873713.513612.2534S Total Small Cap EquityReturn87.7819.98Rank2028S Vanguard Small-Cap IndexReturn87.7819.98Rank2028Russell 2000Return94.8521.70Rank715C CRSP Small Cap IndexReturn87.6819.92Rank20281726
City of Dalton Employee’s Pension PlanFixed Income Core Cumulative Performance ComparisonsTotal Returns of Fixed Income PortfoliosPeriods Ending 3/2116%14%12%10%8%6%4%2%F0%-2%-4%F C B LF C B LC B LF C B L-6%High1st QtMedian3rd QtLowLastQtrLast 2QtrsLast 3QtrsLast 6950.5695-2.7384-2.12860.7193F Total Fixed IncomeReturn-3.15Rank48C MetLife Core Bond Index FundReturn-3.44Rank65B Vanguard Total Bond Mkt IndexReturn-3.61Rank75L BBG Barc U.S. AggregateReturn-3.37Rank591827
City of Dalton Employee’s Pension PlanFixed Income Core Consecutive Performance ComparisonsTotal Returns of Fixed Income PortfoliosYears Ending18%16%14%12%10%F8%CBLF6%FBF2%F0%LFC L4%FC LCBLFLLLFC LFL-2%High1st QtMedian3rd 3.77867.7241F Total Fixed IncomeReturn1.218.52Rank9130C MetLife Core Bond Index FundReturn0.399.24Rank9926B Vanguard Total Bond Mkt IndexReturn0.569.12Rank9526L BBG Barc U.S. AggregateReturn0.718.93Rank9327195.3454.486028
City of Dalton Employee’s Pension PlanFixed Income Core Cumulative Performance ComparisonsTotal Returns of Fixed Income PortfoliosPeriods Ending 3/2116%14%12%10%8%6%FCBL4%FCBLFC LFC L2%F0%High1st QtMedian3rd QtLowLFLFLFLFLCBLLastYearLast 2YearsLast 3YearsLast 4YearsLast 5YearsLast 6YearsLast 7YearsLast 8YearsLast 9YearsLast 88932.98913.4488F Total Fixed IncomeReturn1.214.80Rank9185C MetLife Core Bond Index FundReturn0.394.72Rank9989B Vanguard Total Bond Mkt IndexReturn0.564.75Rank9587L BBG Barc U.S. AggregateReturn0.714.74Rank938720F4.95774.658729
City of Dalton Employee’s Pension PlanIntermediate Term Cumulative Performance ComparisonsTotal Returns of Fixed Income PortfoliosPeriods Ending 3/217%6%5%G4%3%2%I1%G0%G-1%II-2%G I-3%High1st QtMedian3rd QtLowLastQtrLast 2QtrsLast 3QtrsLast 69400.35344.4323-1.3972-0.78792.0176G Goldman Sachs FundReturn-1.85Rank66I BBG Barc Int Govt/CreditReturn-1.86Rank672130
City of Dalton Employee’s Pension PlanIntermediate Term Consecutive Performance ComparisonsTotal Returns of Fixed Income PortfoliosYears Ending9%8%7%I6%G5%4%G IG3%2%I1%G I0%GI-1%High1st QtMedian3rd 6.88254.24640.35820.4257G Goldman Sachs FundReturn4.43Rank23I BBG Barc Int Govt/CreditReturn2.01Rank762231
City of Dalton Employee’s Pension PlanIntermediate Term Cumulative Performance ComparisonsTotal Returns of Fixed Income PortfoliosPeriods Ending 0%0.5%0.0%High1st QtMedian3rd QtLowGGIIGIGIILastYearLast 2YearsLast 3YearsLast 4YearsLast 7572G Goldman Sachs FundReturn4.43Rank23I BBG Barc Int Govt/CreditReturn2.01Rank7623G32
City of Dalton Employee’s Pension PlanCumulative Performance ComparisonTotal Returns of Short Term PortfoliosPeriods Ending 3/213.5%3.0%2.5%2.0%1.5%1.0%0.5%0.0%C TC TC TCT-0.5%High1st QtMedian3rd QtLowLastQtrLast 2QtrsLast 3QtrsLast 00.001000.06400.09500.1255C Cash AccountReturn0.00Rank100T 91-Day Treasury BillReturn0.03Rank452433
City of Dalton Employee’s Pension PlanConsecutive Performance ComparisonTotal Returns of Short Term PortfoliosYears 0.5%0.0% CT-0.5%High1st QtMedian3rd 3710.07570.12550.0668C Cash AccountReturn0.00Rank100T 91-Day Treasury BillReturn0.12Rank5525T34
City of Dalton Employee’s Pension PlanCumulative Performance ComparisonTotal Returns of Short Term PortfoliosPeriods Ending % CTCCCCCCTCCCT-0.5%High1st QtMedian3rd QtLowLastYearLast 2YearsLast 3YearsLast 4YearsLast 5YearsLast 6YearsLast 7YearsLast 8YearsLast 9YearsLast 77670.70660.6369C Cash AccountReturn0.00Rank100T 91-Day Treasury BillReturn0.12Rank552635
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CITY OF DALTON PENSIONMBR CALCULATIONPeriod /21 31,837,56
CHUCK CARR - SOUTHERN ACTUARIAL SERVICES Chuck Carr from Southern Actuarial Services highlighted parts of the City of Dalton (PSOR\HHV¶ Pension Plan Actuarial Valuation dated 01 -01 -21 . Carr stated the Report is a look back to the previous year. He stated that there are n o plan changes or assumption changes in the Report . Carr
CenturyLink Retirement Component SPD Lumen Combined Pension Plan Issued Jun. 1, 2021 2 On December 31, 2014, the Embarq Retirement Pension Plan (which included both Embarq and Madison River pension plans) and the Qwest Pension Plan were merged into the CenturyLink Retirement Plan to form
defined benefit pension plans financed through autonomous pension funds. Clarification of these terms will be provided throughout this report, and reference also should be made to the OECD’s “Taxonomy for pension plans, pension funds and pension entities”. Lump sum pension benefits. 4.
In Japan, corporate pensions are managed pursuant to the Defined-benefit Corporate Pension Act and the Defined-contribution Pension Act. Defined-benefit Corporate Pension (hereinafter referred to as "DB") is a system whereby pension benefits payable in the future to participants are predetermined. Pension assets are invested by the company.
Ascension Healthcare Legacy Pension Plan benefits, are available through Benefit Connect at Online services for any frozen pension benefits you may have at your Employer, including your; Access Online Ascension Pension Services; Revised January 1, 2019 Ascension Healthcare Legacy Pension Plan Summary 2 .
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contact IBM Pension Services at 800-796-9876 to begin processing of pension benefits. The earlier the employee contacts IBM Pension Services during this time period, the more likely pension benefits will be paid on time. Failure to contact IBM Pension Services within this
5 LAPP Retirement Options As LAPP Ae Your Plan Has Value Many Canadians do not have access to a workplace pension, and your LAPP pension offers a number of distinct and . valuable features: 1) A LAPP pension is a pension for life 2) A LAPP pension is predictable 3) Your employer contributes 1% more than you 4) You can choose to retire early
regarding corporate DB pension plans, such as freezing of defined pension plans or transferring pension risks to insurers, have been made in a corporate finance framework at an enterprise level. Similarly, corporate pension funding policies and investment policies are being analyzed within a set of corporate finance metrics. Therefore, there is a
