Human Resources

Human Resources

Human Resources

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Monthly Pension Update: April 2020

Tuesday, June 9, 2020

Pension Plan Fund rate -0.67% through April 2020

Despite continuing pandemic concerns global equity markets rebounded solidly in April, resulting in a gain of 6.5% (net of fees) for the month. Overall performance however was mixed -- returns were 46 basis points (0.46%) above the Fund’s benchmark return for the month but 368 basis points (3.68%) below benchmark for the 12-month period ending April 30, 2020.

The net return after the first eight months of the 2019-20 plan year stands at -0.6669% (September 1, 2019 through April 30, 2020). For additional detail, please see the 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.