Atlanta's 3 pension plans rebound, posting gains in fiscal year

Atlanta's three city pension plans delivered solid returns for the fiscal year ended June 30, outperforming their respective benchmarks and reversing losses incurred in the prior fiscal year.

The $1.7 billion Atlanta General Employees' Pension Fund returned 9.7% for the fiscal year ended June 30, ahead of its benchmark, which returned 8.8%, according to an investment report on the city of Atlanta's website.

For the three, five, seven and 10 years ended June 30, the general employees plan returned an annualized net 8.3%, 6.9%, 8.3% and 8.2%, respectively, compared with their respective benchmark returns of 7.4%, 6.4%, 7.9% and 7.9%.

The general employees plan had returned a net -11.9% for the fiscal year ended June 30, 2022.

As of June 30, 2023, the employees plan's asset allocation was 38.7% U.S. equity, 21.2% fixed income; 19.9% international equity, 15% global equity; 3.4% real estate; 1.2% cash and the rest in alternatives.

The $1.4 billion Atlanta Police Officers' Pension Fund returned a net 9.8% for the fiscal year ended June 30, slightly better than the 9.4% for the benchmark.

For the three, five, seven and 10 years ended June 30, the police officers plan returned an annualized net 8.2%, 6.5%, 7.9% and 7.5%, respectively, compared with their respective benchmarks of 7.9%, 6.4%, 7.8% and 7.8%.

The police pension plan had returned a net -13.5% for the fiscal year ended June 30, 2022.

As of June 30, 2023, the police plan had an asset allocation of 43.6% U.S. equities, 27.3% international equities, 24.8% fixed income, 2.2% cash and 2% in alternatives.

Finally, the $808 million Atlanta Firefighters' Pension Fund returned a net 9% for the fiscal year ended June 30, while its benchmark returned 8.5%.

For the three, five, seven and 10 years ended June 30, the firefighters pension plan returned an annualized net 7.3%, 5.9%, 7.5% and 7%, respectively, compared with their respective benchmarks of 7.7%, 6.1%, 7.5% and 7.7%.

The firefighters plan had returned a net -14.8% for the fiscal year ended June 30, 2022.

As of June 30, 2023, the firefighters plan had an asset allocation of 44.5% U.S. equities, 25.8% international equities, 25.1% fixed income, 3.1% alternatives and 1.5% cash.

Asset class performances for the year ended June 30 were not provided in the report.