Aon Investments said clearer guidance in three policy areas could strengthen governance at the 50 largest U.S. public pension funds, according to a new review of their investment policy statements.
The report argues that sharper investment-policy language can help funds close governance gaps and improve decision-making, framing the changes as strategic moves that can give plans an advantage.
The findings focus on public pension governance rather than fund performance, highlighting how policy design at some of the biggest U.S. retirement systems can shape oversight and execution.