Pension board votes to keep assumed rate of return

Associated Press//July 17, 2012

Pension board votes to keep assumed rate of return

By Associated Press

//July 17, 2012

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.

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