San Luis Obispo (Calif.) County is considering a new asset allocation model for its $400 million defined benefit plan, said Robert Nagle, investment officer. Consultant Milliman USA proposed a model of 44% domestic equity, 38% fixed income, 10% real estate, 7.5% international equity and 0.5% cash. The current model is 41% domestic equity, 44% fixed income, 9.5 % real estate, 5% international equity and 0.5% cash. Plan officials ask for new asset allocation proposals every two to three years, Mr. Nagle said.
Plan officials will consider the new model by late June, Mr. Nagle said. He would not say if manager changes could result.