Meeting of the Pension Commission at 5:00 PM
Agenda for the April 19, 2021
Due to concerns about covid-19, this meeting will be a virtual meeting using Zoom.
The public may join the meeting using Zoom. Instructions are below:
FOR THE PUBLIC
You are invited to a Zoom webinar.
When: Apr 19, 2021 05:00 PM Eastern Time (US and Canada)
Topic: Town of Ridgefield - Pension Committee - 04/19/2021
Register in advance for this webinar:
After registering, you will receive a confirmation email containing information about joining the webinar.
The agenda is as follows:
- Vanguard presentation on performance, capital market assumptions, and ESG
- Approve minutes from prior meeting
- Approve invoices, if any
- Revision of IPS
- Rebalancing – see page 2
- ESG – to be discussed
- Plan documents
- Review of pension calculations
- Future projects
- Updating employee booklets
- Terms of reference
- Other topics
- 9. Next meeting – May 17th at 5:00 pm
Investments – Art, Tom H., and Chris S.
Governance - Chris C., Chris St. V., Jim
C. Rebalancing Policy
The Portfolio’s actual asset allocation may drift away from its target asset allocation as a result of the
varying periodic returns earned on investments in different asset and sub-asset classes. The purpose of
a structured rebalancing policy is to provide a disciplined investment process that maintains the
risk/reward relationship implied by the target asset allocation. The Commission will rebalance the
Portfolio to the Target Allocation found in the Appendix as follows:
- Utilizing incoming cash flow (contributions) or outgoing money movements (disbursements) to realign the current weightings to the target asset allocation of the Portfolio on an ongoing basis.
- Reviewing the Portfolio at least once each calendar quarter quarterly (March 31, June 30, September 30, and December 31) to identify any deviation(s) from the Target Allocation and acting within a reasonable period of time if any asset class (equity, fixed income, alternatives, real estate, or cash) within the Portfolio is +/- five (5) percentage points from its target weighting, the Portfolio will be rebalanced.
- Rebalancing the Portfolio at any other time if the Commission, in its discretion, deems it appropriate to do so.