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.READ MORE: Santander's 3-Run HR In 9th Leads Orioles Past Yankees 9-6
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.READ MORE: CIAA Basketball Tournament Drew 36K Fans And Had $19.6M Economic Impact, Officials Say
The assumptions include mortality rates, rates of service retirement, rates of disabled retirements and payroll growth.MORE NEWS: Dr. Fauci Urges UMD Baltimore Graduates To 'Live A Life Of Service'
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