The Alaska Retirement Management Board (ARMB) conducts an annual review of the asset allocations for all retirement systems under its fiduciary care. For fiscal year 2027, ARMB staff, in collaboration with Callan LLC, evaluated capital market assumptions, asset‑liability modeling, liquidity needs, and other key factors to identify optimal strategic asset mixes for each plan. Based on this analysis, and current expectations that the adopted allocation can modestly exceed 7.25%, staff recommended maintaining the current earnings assumption while continuing analysis to support future de‑risking decisions. 

• FY 2027 Asset Allocation and Earnings Assumptions presentation (TRT: 01:07:21)
• FY2027 Asset Allocation Action Items
  • Resolutions 2026‑03 Relating to Asset Allocation for the Funds of the Public Employees' Retirement System Defined Benefit and Defined Contribution Plans, Teachers' Retirement System Defined Benefit and Defined Contribution Plans, and Judicial Retirement System Defined Benefit Plans
  • Resolution 2026-04 Relating to Asset Allocation for the Alaska National Guard and Naval Militia Retirement Systems