IAC debates strategic shift for OPEB portfolio management
Board of Estimate & Taxation Investment Advisory Committee · Meeting of June 18, 2026
CT GREENWICH — Committee debates strategy to address OPEB portfolio underperformance. The BET Investment Advisory Committee weighed competing approaches after active managers failed to generate returns: Pellegrino advocated consolidating the portfolio into four index exchange-traded funds, while Alchek proposed adding 5 to 10 percent in non-correlated assets and selectively maintaining active management. Led by Chair Elliot Alchek and including Joseph Pellegrino and Stephen Selbst, the committee unanimously recommended reappointing Robert L.
Harteveldt as OPEB Trust Board Chair and Sally Bednar to the OPEB Trust Board through June 30, 2029. Voting on portfolio restructuring is deferred to the July 23 concurrent IAC and OPEB Board meeting.
In the full story:
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Source: the Board of Estimate & Taxation Investment Advisory Committee meeting of June 18, 2026, reported from the official video recording and transcript.
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