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PERS board lowers assumed rate of return; increases unfunded liability by about $2B
TIGARD, Ore. — The governing board of the state's public pension system Friday lowered the rate of assumed earnings on the state's pension fund.
The board adopted to assume a 7.2 percent rate of return on the state's investments of the Public Employees Retirement Fund. The rate is currently 7.5 percent.
That decision doesn't affect how much the state actually earns on its investments, which are overseen by the state's investment council.
But the change is projected to increase the system's unfunded actuarial liability, the amount by which the system's obligations exceed its assets.
Read more: http://pamplinmedia.com/pt/9-news/367655-249889-pers-board-lowers-assumed-rate-of-return
