ERS OFFICES ARE CURRENTLY CLOSED TO THE PUBLIC
As a precautionary measure related to the COVID-19 (coronavirus) outbreak, the ERS office is currently closed to the public. All in-person meetings and walk-ins are being cancelled at this time until further notice. Please be aware that due to security reasons, the front door of ERS’ office building is currently locked. If you need assistance, please contact ERS at (414) 286-3557.
Please be advised that the ERS’s daily operations and services are NOT interrupted, including the processing of benefit-related updates and annuity payments. Retirement Counseling Sessions and other meetings are currently being conducted by phone at this time.
Please email us at email@example.com with your questions. Please be advised that responses may be delayed.
The City of Milwaukee Pension Fund had a return of 10.3%, net of fees, in the second quarter of 2020. This return outperformed the Fund’s blended benchmark by 3.0%. While the U.S. economy was still in the midst of a significant negative impact from the pandemic, markets rebounded off their March lows, likely in response to unprecedented fiscal and monetary stimulus. This stimulus was necessary, as the U.S. unemployment rate stood at 11.1% in June, after hitting a high of 14.7% in April. The rebound in markets led to positive quarterly returns for many of the Fund’s asset classes. The Fund’s public equity allocation was up 20.3%, while the Fund’s fixed income return was 5.8%, and the absolute return asset class was up 6.9%, all net of fees. Real estate’s return was -1.0%, net of fees, in the first quarter of 2020, which is the most recent quarterly data available. The market value of the Fund on June 30, 2020 totaled approximately $4.90 billion.
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