Pension data from 2011–2016analyzed by the CRR indicate that higher fees correlate to lowernet-of-fee performance relative to benchmarks. (Photo:Shutterstock)

Public pension plans evaluate their performance by comparingreturns by asset class to certain benchmarks—and in the quest tobeat benchmarks, they seek out external asset managers to do justthat.

However, according to a brief from the Center for Retirement Researchat Boston College, with fees under scrutiny for what they may or maynot help a plan to do, researchers have found that plans payinghigher fees aren't doing themselves any favors in beatingbenchmarks.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.