2 lowering assumptions
The $3.5 billion San Mateo County Employees' Retirement Association and the $7.8 billion Missouri State Employees' Retirement System announced they are each lowering their assumed rates of return.
San Mateo County is reducing its assumption to 7% from 7.25%, effective immediately. MOSERS' reduction will be gradual, to 7.05% from the current 8%, by July 1, 2021.
"Both SamCERA's actuary (Milliman) and investment consultant (Verus) do not anticipate SamCERA'...