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Analysis of City of San Jose Retirement Plans Investment Portfolios

Nov 2017
Working Paper
By  Joe Nation, Olympia Nguyen Tulloch, Clive Lipshitz

This working paper compares San Jose’s two public pension plans with other plans of similar size in the U.S. It focuses on funded status, asset allocation, investment performance, and investment expenses. Like these other plans, San Jose’s plans have experienced a deterioration in funded status, in part due to investment performance. Relative to other plans, San Jose’s investment performance is weak and its investment expenses are high, which should be of concern to plan managers since these factors reduce asset growth and simultaneously put downward pressure on discount rates, further increasing plan liabilities. 

Publication Keywords: 
asset allocation
investment performance
funded ratio
funded status