Human Resources

Human Resources

Human Resources

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Monthly Pension Update: August 2018

Monday, October 1, 2018

Pension Plan Fund rate 8.61% through August 2018

Solid returns from the global equity markets continued again in August, contributing to a modest monthly gain of 0.6% (net of fees) for the final month of the plan year. Overall performance was mixed, however -- returns were 74 basis points (0.74%) below the Fund’s benchmark return for the month but 18 basis points (0.18%) above benchmark for the 12-month period ending August 31, 2018.

The net return for the 2017-18 plan year stands at 8.6114% (September 1, 2017 through August 31, 2018). For additional detail, please see the new monthly report on Fund performance prepared by Investment Services.

Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.

For more information, please contact the Pensions Services unit of the Department of Human Resources.