GERS Surpasses 24% Return, Adds $17M in Property Value, and Prepares 8% Retiree Loan Program Amid Volatile Market

Despite ongoing volatility in global financial markets, the Government Employees’ Retirement System (GERS)investment fund continues to perform strongly, according to the system’s investment consultant. Speaking at Thursday’s GERS board meeting, Leandro Festino, senior consultant with Meketa Investment Group, described the fund as “holding up quite well” despite recent instability. Festino credited a previous board decision to reduce the fund’s equity exposure by 10% in favor of more stable fixed-income instruments. “It was the right call,” he said, noting that due to the lagging nature of market data, “we may be already in a recession.” Festino advised against any immediate changes to the portfolio’s structure, citing persistent uncertainty in the markets. “Tariffs are a big issue,” he acknowledged, but emphasized that this should not drive any reallocation of assets. “I don't think it's going to be the primary determinant for us to consider making any changes to the way GERS’ portfo...