Pension Board of Trustees 10-14-2026

The City of Norwalk, Connecticut, Pension Board of Trustees’ OPED meeting on October 14, 2026, reviewed its investment policy statement (IPS) and quarterly portfolio performance. The board approved a motion to establish a cash allocation target with a 0%–6% range; the vote appears to have passed despite one opposing vote. The investment adviser said the change was for policy and performance reporting and would not itself trigger a cash raise. The discussion referenced expected annual OPED outflows of about $9–10 million, and the adviser will circulate an updated IPS.

The adviser recommended moving $5 million from domestic equity into fixed income to bring the allocation closer to IPS guidelines, with Credential suggested as the fixed-income destination. A motion to make the transfer was discussed, but the transcript does not capture a final vote or outcome. The board also reviewed second-quarter results, including a reported trailing-year return near 20%, and heard that managers were performing in line with expectations. No procurement activity was identified.