San Luis Obispo County (Calif.) Employees' Retirement Plan approved a new target asset allocation, increasing real estate and eliminating cash, said Robert Nagle, investment officer. The $561 million plan set new targets of 44% fixed income, 33% passive domestic equity, 10% real estate, 8% active domestic equity and 5% international equity. The plan previously had target allocations of 9.5% real estate and 0.5% cash, Mr. Nagle said; no other changes were made. No searches will result, he said. Officials considered eliminating the plan's international equity commitment, Mr. Nagle said, because of concerns over lack of diversification between those holdings and domestic equity. Because of performance, however, officials decided to continue with the plan's international investments, but have set the 5% allocation as a maximum, Mr. Nagle said. Milliman USA assisted.