Human Resources

Human Resources

Human Resources

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Monthly Pension Update: September 2018

Monday, November 12, 2018

Pension Plan Fund rate -0.34% through September 2018

Global equity markets were mixed in September, resulting in a modest loss of 0.34% (net of fees) for the first month of the new plan year. Overall performance was positive, however -- returns were 25 basis points (0.25%) above the Fund’s benchmark return for the month and 5 basis points (0.05%) above benchmark for the 12-month period ending September 30, 2018.

The net return for the 2018-19 plan year stands at -0.3355% (September 1, 2018 through September 30, 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.