We would like to address the uncertainty in the financial markets and answer some of the questions that have been posed. Our Retirement System is a defined benefit plan, your current or future Retirement Allowance is not dependant upon the US stock market. Your benefits are guaranteed by Massachusetts State Law.
In conjunction with our investment consultant, Meketa Investment Group, the Board has adopted an Asset Allocation policy that invests a broadly diversified portfolio across multiple asset classes. Within each of those asset classes the Fund holds many different securities to ameliorate the risk of any one security’s performance to have a drastic effect on the portfolio as a whole.
Although the economic news has been unfavorable, the Board, as a long term investor, expects the portfolio to be able to weather this short term pullback in the equity markets. Through a prudent and disciplined approach to monitoring the asset allocation, the Board hopes to be well poised when the financial markets rebound.
Please feel free to contact the Office with any questions or concerns.
The Quincy Retirement Board