To fulfill the Retirement Board's mission, the primary focus is on its investment program. In accordance with the Reform Act's mandate, the Retirement Board must exercise its responsibilities with respect to the Funds with the care, skill, prudence, and diligence as would a prudent individual acting in a like capacity and familiar with such matters under like circumstances.
By diversifying the investments of the Funds so as to minimize the risk of large losses, the Retirement Board seeks long-term investment returns that meet or exceeds the actuarial assumption rate of 7.0%, as of October 2008.
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