Vermont Pension Investment Committee, Montpelier, is conducting an asset/liability study, said Stephen Rauh, chairman of the committee, in an e-mail.
The committee oversees the $4 billion Vermont State Retirement Systems, Montpelier.
The objective of the study is to “better align the investment portfolio's asset allocation and associated risk profile with the pension plan liabilities and to understand the probabilities of achieving sustainable benefit funding,” Mr. Rauh wrote.
The first stage of the review began with a discussion of drawdown exposure, liquidity, funded status, economic exposures and contribution levels, Mr. Rauh wrote.
There is no specific date for when will the study will be completed.
As of Dec. 31, the committee's target asset allocation was 33% fixed income, 31.5% equity, 20% multistrategy and 15.5% alternatives.
