(Bloomberg) — Connecticut Treasurer Denise Nappier said the 0.35% return posted by the state’s $29 billion retirement system in the year that ended in June underscores the need to adopt more realistic investment assumptions.
The teachers’ and state employees’ funds, Connecticut’s two biggest pensions, target an 8% annual return. Such retirement plans are being forced to re-evaluate projected investment gains that determine how much money taxpayers need to put into them, given record-low bond yields, slow economic growth and declining stock prices.
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