US - Rhode Island's unfunded public pension liabilities for teachers and most state workers jumped about 27% after the board overseeing the retirement system voted to cut the presumed rate of return on assets.
The fund lacks about $6.83bn to meet projected needs, up from about $5.4bn before overseers yesterday cut return expectations to 7.5% a year from 8.25%, according to Treasurer Gina Raimondo. The pl...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date