15 Nov 2022
20 min read

Exploring the Unique Characteristics of Public Pension Plans

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All public pension plan sponsors use financial management policies (including funding, investment and liability measurement) to manage liability-based challenges over time. They must decide how much money to contribute into the plan each year, how to invest the money and how to measure the liability growth and cost of the plan over time. There is often no “one-size-fits-all” answer to these interrelated policy decisions, as the right answers will be based on each plan’s situation. In our latest issue of Viewpoints, we talk with Brianne Weymouth, Senior Vice President and Consultant at Callan, and Matt Sloan, Client Strategist at LGIM America, about the unique characteristics of public pension plans and challenges they may face to meet their investment goals. Additionally, we discuss topical trends and investment areas that are emerging within the public plan space.

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Additional insights

Cash Money Bars

Cash Balance Plans

Portfolio Solutions - LDI

Because cash balance plans with yield-based crediting rates operate differently than traditional plans, it is vitally important for investment strategy, contribution strategy and actuarial assumption setting to operate in a coordinated fashion to meet plan sponsor goals.

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Rethinking Overlay Manager Diversification

Portfolio Solutions - LDI

At LGIM America, we believe overlay manager diversification is likely inefficient and creates uncompensated risks. Using multiple overlay managers can result in increased costs, collateral inefficiency and higher governance burdens.

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