Kansas City (Mo.) Employees' Retirement System will increase its...

Kansas City (Mo.) Employees' Retirement System will increase its equity allocation to 65% from 62%, said Rick Boersma, executive officer. The $700 million pension plan will reduce its fixed-income allocation to 30% from 33%; the remaining 5% is in real estate. The shift to equities is the result of an asset-liability study, Mr. Boersma said. The plan is now 88% funded; increasing equity was the "best attempt to stabilize the funded ratio" at more than 80%, he said. Trustees have not decided what type of equity they might add nor the exact funding source, he said. Those decisions might be made in May, with changes implemented in the summer. Ennis Knupp is assisting.