Pension Board 05-13-2026

The City of Norwalk Connecticut Pension Board held a meeting on May 13, 2026, primarily focused on pension approvals, investment portfolio adjustments, and plan performance reviews. The board approved pension applications for several individuals and discussed a proposal to introduce a passive component in the international equity portfolio using BlackRock's non-lending equity index fund, which was unanimously approved. The meeting also included a detailed presentation by Empower on the deferred compensation and 401A money purchase plans, covering plan demographics, participation rates, contribution details, and participant engagement strategies. Discussions touched on contract renewal terms with Empower, participant education efforts, and the potential for negotiating a longer-term contract given the plan's asset growth to over $100 million. No new contracts were awarded during the meeting, but the board considered future contract negotiations and ongoing vendor relationships.