Pension board votes to keep assumed rate of return
Photographer: AP Graphics Bank
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 07/17/2012
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 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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