Skip To Content
The City of Milwaukee Pension Fund had a return of 2.7%, net of fees, in the third quarter of 2018. This outperformed the Fund’s blended benchmark by 0.3%. Third quarter GDP growth in the U.S. came in at 3.5%, marking the sixth consecutive quarter of growth greater than 2.0%. Once again, this supported public equity markets, and the return for the Fund’s public equity allocation was 3.8%, net of fees. The prospect of future interest rate increases continued to weigh on fixed income markets, but the Fund’s managers were able to generate some nice outperformance, with a return of 0.7%, net of fees, that outperformed the benchmark by 0.6%. The Fund’s absolute return asset class performed well, with a return of 2.0%, net of fees, as did Private Equity, with a return of 5.0%, net of fees. The Fund’s real estate portfolio was up 2.8%, net of fees, in second quarter of 2018, which is the most recent quarterly data available. The market value of the Fund on September 30, 2018 totaled approximately $5.42 billion, and the year-to-date return was 4.5%, net of fees.
Thank you to all who participated in the recent board election for active members. The results are as follows;
CMS, the authority that manages Medicare, has begun issuing replacement Medicare cards and is anticipating the replacement of all cards over the next year. This new card will replace the existing Medicare cards you have, and will include a new identity number called the Medicare Beneficiary Identifier (MBI). The MBI will replace the HICN that is currently used (that looks a lot like your social security number). More information about this can be found on CMS's website. To learn more about when your card will arrive, go to Medicare.gov/NewCard. Your benefits will not be impacted with this change.
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.
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: 12/6/2018