General Employees' Retirement Plan (GERP)

General Employees' Retirement Plan (GERP)

The City of Aurora General Employees' Retirement Plan was established in 1967 to deliver defined benefits to participating municipal employees. A ten-member Board of Trustees oversees administration and policy. David McConico serves as chairperson. The plan targets a 7 percent internal rate of return and deploys capital across public equities, fixed income, private equity fund-of-funds, core real estate and timberland. Current private equity exposure stands at 14.27 percent against a 13 percent target. Confirmed holdings include Abbott Capital Private Equity Investors 2016 LP, HarbourVest Partners X and XI, HIPEP VII Partnership Fund LP, Molpus Woodlands Fund III, IV and V, CF Heitman America Real Estate Trust LP Fund and Cohen & Steers Global Real Estate Securities Fund. Geographic exposure centers on the United States with additional international private equity commitments. The plan employs three staff members and retains Northern Trust as custodian, Callan Associates as investment consultant and Milliman as actuary. It maintains memberships in NCPERS, IFEBP and the Government Finance Officers Association. No operational events from the last 24 months appear in available records.