2020 public plan investment update and COVID-19 market volatility

Aubry, Jean-Pierre. “2020 public plan investment update and COVID-19 market volatility”. State and Local Plans Issue in Brief 73, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, September 2020. http://hdl.handle.net/2345/bc-ir:109049.
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Abstract

Despite the market rebound, most public pension plans ended FY 2020 with investment returns that fell short of actuarial expectations. Moreover, the March crash raised concerns about the liquidity needs of public plans, which already must sell assets to pay benefits. In particular, alternatives are harder to value and more illiquid, which make them a poor option for selling in a downturn. However, plans do maintain a cache of Treasuries that could be easily liquidated, so most plans are equipped to weather a sharp downturn.

Title
2020 public plan investment update and COVID-19 market volatility
Author
Aubry, Jean-Pierre
Center
Center for Retirement Research
Genre
report
Date Issued
September 2020
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Plans Issue in Brief
Series Number
73
Persistent Link
http://hdl.handle.net/2345/bc-ir:109049
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and Local Pensions

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