With the market volatility due to the new coronavirus, COVID-19, you may be concerned about the effects on your pension benefit. It is important to keep in mind that the Board of Pensions invests for the long term. Our Chief Investment Officer, Judith D. Freyer, speaks to that.
With concerns over global markets, I would like to remind our members and beneficiaries of the Pension Plan that their monthly checks are not dependent upon the daily or even yearly investment performance of the Board of Pensions Balanced Investment Portfolio.
The Balanced Investment Portfolio is structured and invested for the long term. The portfolio is well-diversified, with investments in multiple asset classes and investment strategies, including stocks, bonds, private partnerships, and cash. While we are experiencing a decrease in the value of our global stocks as interest rates continue to decline, the bonds in the portfolio have increased in value.
Our mission and commitment to our members is that the portfolio be managed to continue to provide secure benefits in uncertain times.
— Judith D. Freyer
Executive Vice President, Treasurer, and Chief Investment Officer