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One would hope the State would choose investments based on performance, and the best interest of Indiana citizens.
But then again, Republicans.
1yr: Vanguard +24.48% / State Street +10.96%
5 yr: Vanguard +87.15% / State Street +15.21%
I agree with with your statement that Performance should drive investment decision but I believe State Street numbers you shared are flawed.
Given that the State Street fund is an S&P 500 index, your numbers jumped out to me as I know the S&P 500 index has performed better than what you show. Did you get them from Google by chance? I started there and see some weird drop off last December that is out of line with the index it tracks. I looked at the same fund on a brokerage website and it shows something different. Could be an issue with class shares but is mostly likely an issue with how Google is displaying the data.
In summary, the State Street fund is with a 1% range of the Vanguard fund on a 1 year-basis and 4% on a 5 years basis so the performance variance is much less than what you are presenting.
“Protecting our investments from national security concerns and upholding fiduciary duty will always be top priorities.”
You can only have one top priority. It’s clear that the state of Indiana has decided the fiduciary duty to pensionholders is secondary.
Time to take the Indiana legislature and Treasurer to court as they fail their FIDUCIARY responsibilities! How dare they put their pitiful political ideals before what is best for Hoosier taxpayers and state employees. This is just one example of what happens when one political party has a super majority, and they step over the boundaries of what’s best for Hoosiers vs what’s best for political careers.
What’s stopping you from filing the lawsuit?