12 pages. "[W]hat is known about the types of benchmarks used for different asset classes; how actual plan investment performance aligns to these benchmarks; and any relationship between investment fees and actual returns? This brief ... finds that there is not much uniformity in the use of benchmarks for different asset classes, among public plans. Also, for the 2011-2016 timeframe, while most plans' investment performance has surpassed their combined roster of benchmarks, a negative correlation was found between plans with higher investment fees and returns -- especially for nontraditional asset categories."  MORE >>