Financial Markets Update
The equity markets have faced acute disruption as investors react to the economic impacts of the coronavirus pandemic. Because of its diversified portfolio, the investments of the Plan have fared better than the overall equity markets. However, we expect the financial damage to be severe, at least in the short to intermediate term. The defensive portions of the investment portfolio are holding up well, and that should provide the ability to capitalize on opportunities when the eventual recovery occurs. We are monitoring the situation very closely, and will provide updates as conditions warrant.
Does the investment performance impact my current or future pension benefit?
No. DERP remains legally obligated to pay all current and future retirees the full monthly amounts to which they are entitled. The Plan’s investment performance does not impact what any retiree is owed or will be paid.