Public Pension and OPEB Plans: Core Elements and the Role of Asset Allocation
Public pension and other post-employment benefit (OPEB) plans face a common challenge: investing assets to meet long-dated liabilities while managing contribution volatility, liquidity needs and governance constraints. Although both plan types are liability-driven in principle, their asset allocation frameworks often diverge.
Pension plans typically have larger pools of assets and more mature governance structures, while OPEB plans frequently contend with lower funded ratios, less certain cash flow patterns and… Read More >
Public Sector News and Views
We continue to see further consolidation in recordkeepers with One America and Voya integrating and completing their consolidation through 2025. We recently saw one more announcement to start 2026 with Corebridge and Equitable looking to merge together. This continues to reduce the number of options of potential suitors when Plan Sponsors go out to bid for recordkeeper services.
While the pool may be shrinking, the economies of scale these consolidations offer Plan Sponsors, and more importantly participants, is considerable. Fees continue to… Read More >
