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: COVID-19 In Maryland: 5 Deaths Reported Saturday As Hospitalizations Drop Below 200
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: ‘It’s Just All Political Agenda’ Some Business Owners Criticize Mayor, City Response In Fells Point; Street Closures In Effect
The assumptions include mortality rates, rates of service retirement, rates of disabled retirements and payroll growth.MORE NEWS: Roberta's House Holds Grand Opening For Family Grief Support Center
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