Latest News

This Month's News

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 meetings and walk-ins are being cancelled at this time until further notice.

 

Please be advised that the ERS’s daily operations and services are NOT interrupted, including the processing of benefit-related updates and annuity payments.

 

Please email us at norm@cmers.com with your questions. Please be advised that responses may be delayed.

 

Investment Update

In late February and early March, the COVID-19 pandemic brought about an unprecedented stop to much of the economic activity across the globe. This shutdown had a major impact on risk assets. The S&P 500 fell over 30% in only 22 trading days, which is the fastest 30% drop on record. Small cap and value stocks were hit even harder. Even many bonds fell, as credit spreads widened. Some of the only assets to report positive returns were US treasury bonds, as interest rates fell to record lows, and gold. In this environment, the City of Milwaukee Pension Fund had a return of -17.5%, net of fees, in the first quarter of 2020. At times like these, it is important to remember that the Pension Fund is a long-term investor. There is ample cash and US treasury bonds on hand to pay benefits while the fund rides out this downturn. The Fund started to see a rebound in the month of April, with a preliminary return of 5.9%. The value of the Fund, as of April 30, 2020 was approximately $4.77 billion.

Check out the Rest of our Website

You are a member of the ERS, and membership has its privileges. One of those privileges is access to the portion of our website that is all about you. We call it ERS Member Self Service. Click here for more details.

 

Also...

Other recent news can be found on the most recent newsletter.

Other important information can be found on our Frequently Asked Questions page.

Last Update: 5/27/2020

top