San Mateo County Employees' Retirement Association, Redwood City, Calif., approved a new asset allocation policy as well as a cost-of-living adjustment for most participants, according to an announcement on the $5 billion pension fund's website.
At its Jan. 26 meeting, the board adopted a 2% increase to growth assets and a 2% reduction in diversifying assets.
The approved COLA, which goes into effect April 1, applies to participants who retired on or before that date. The COLAs range from 1.5% to 3%, depending on which plan the participant is in.
