SUBJECT/RECOMMENDATION:
Title
Determine Trustees’ expected rate of return for pension plan investments for current year, each of the next several years, and for the long term thereafter, in accordance with FL Statutes 112.661(9).
Body
SUMMARY:
Florida Statutes 112.661(9) requires an annual determination of expected rates of return be filed with the Florida Department of Management Services, with the plan’s sponsor, and with the consulting actuary.
Staff is recommending the current plan investment rate of return assumption of 7.0%, net of investment-related fees, as the expected annual rate of return for the current year, for each of the next several years, and for the long term thereafter.
APPROPRIATION CODE AND AMOUNT:
N/A