Pension Board Votes To Keep Assumed Rate Of Return

BALTIMORE (AP) — The State Retirement and Pension System’s 14-member board of trustees has voted to keep the assumed rate of return on investments at 7.75 percent.

The board, which includes Treasurer Nancy Kopp, voted on Tuesday to keep the assumed rate of return where it’s been since 2003.

Michael Golden, director of external affairs for the Maryland State Retirement and Pension System, also noted in an email that the board adopted changes to demographic assumptions to reflect findings of a study covering the years 2006 to 2010.

The assumptions include mortality rates, rates of service retirement, rates of disabled retirements and payroll growth.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network Play.it

Listen Live