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With Trump and GOP-Controlled Washington, GERS Plans Lobbying Push for Rum Cover-Over Extension

  • Staff Consortium
  • January 24, 2025

During Thursday's meeting of the Government Employees' Retirement System Board of Trustees, board members questioned the health of the system's investment portfolio and considered additional lobbying efforts in Washington, D.C. on matters important to the system. Tahmin Clarke, GERS’s newest trustee, questioned how board members intended to “position the fund relative to the changes in the political climate.” GERS CEO Angel Dawson told Mr. Clarke that there had been a significant rebalancing exercise undertaken last November. “Previously our equity targets in the portfolio was at about 45%, so we reduced that to about 35 and transitioned that 10% to fixed income,” Mr. Dawson outlined. “We reduced our position slightly in emerging markets as well,” he added. A discussion about lobbying efforts then ensued, amidst a suggestion that the entire board of GERS trustees travel to Washington in an effort to move the needle on legislation for a permanent extension of the rum cover-over rate ...

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