Post by Logan on Dec 5, 2016 23:42:45 GMT -6
The panel that oversees the state’s largest public employee pension system has decided to lower its expected rate of return.
That decision to lower the rate to 7.25 percent from 7.5 percent comes as welcome news to Colorado Treasurer Walker Stapleton, who said it was a good move even if it will increase the system’s unfunded liability.
Still, the man who oversees the state’s investment portfolio said the reduction wasn’t enough.
Stapleton, a member of the board that oversees the Colorado Public Employees Retirement Association and a longtime critic of how it is managed, said the move will increase the system’s unfunded liability by about $3 billion.
Read more: www.gjsentinel.com/news/articles/public-employee-pension-plan-lowers-expected-rate
That decision to lower the rate to 7.25 percent from 7.5 percent comes as welcome news to Colorado Treasurer Walker Stapleton, who said it was a good move even if it will increase the system’s unfunded liability.
Still, the man who oversees the state’s investment portfolio said the reduction wasn’t enough.
Stapleton, a member of the board that oversees the Colorado Public Employees Retirement Association and a longtime critic of how it is managed, said the move will increase the system’s unfunded liability by about $3 billion.
Read more: www.gjsentinel.com/news/articles/public-employee-pension-plan-lowers-expected-rate