Peace Officers Retirement System
The Treasurer of State is a member of the board of trustees of the Iowa Department of Public Safety Peace Officers' Retirement, Accident, and Disability System (PORS). The board has the general responsibility for the proper operation of the system and has authorized the Treasurer to administer the investment of the retirement fund in accordance with Iowa Code chapter 97A.7. The Treasurer also designates and monitors a master custody institution that holds securities, settles investment transactions, collects income and maintains investment portfolio accounting for the PORS.
The board has hired investment management firms to invest the money in the fund. The board has adopted an investment policy that stipulates how the retirement fund is to be invested. Treasury staff monitor compliance of fund investments with the policies and manager guidelines established by the board, and make regular reports to the board regarding fund and manager performance. Treasury staff also makes recommendations to the board regarding investment strategy and possible revisions to policies and guidelines.
The fund's target asset allocation as of January 2008 is 40% in U.S. stocks/equity, 25% in fixed income, 25% in international equity, 5% in real estate, and 5% in hedge funds. As of December 31, 2007, the market value of the retirement fund assets was $312,413,171.
