Hammond Associates’ Public Retirement Plan practice group understands the unique challenges facing public officials in the management of their defined benefit and defined contribution retirement plans. These plans allow the sponsor an opportunity to provide for a financially secure retirement plan for their employees, thus enabling the municipality to better compete for qualified and reliable employees. Public plan sponsors are facing increasing cost pressures. It is therefore more important than ever that the fund sponsor avail itself of the best available advice regarding investment strategy, asset allocation, investment committee governance and manager selection. Proper education of the investment committee on an ongoing basis is an important service that we provide. Funded status of the retirement plan is often a key issue in the ability to access debt markets in a cost effective manner.
The Public Retirement team has practical hands-on experience with public plan issues, both as a consultant and in one case with having been the Chief Investment Officer for a major Southern California County. For our clients, this experience provides:
Proactive, thoughtful advice - Our public retirement plans consulting staff takes a proactive rather than reactive approach to servicing our clients. We take a personal interest in the success of each relationship, and measure our accomplishments by the accomplishments of our clients.
Strategic focus - We are experienced in integrating investment strategy with the plan's governance structure and corporate objectives. We begin with a top down view of the overall plan, and integrate investments within that framework.
Customization - We coordinate with the governance board and internal financial staff to understand plans for capital spending, operating budgets, funding requirements, and plan expenses. Our job is to make certain that the investment plan can be executed within the overall strategic vision for the plan.