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NEWS from Richardson Lab EVENTS

Monthly Pension Update: January 2020

Posted 2020 March 04


Pension Plan Fund rate 5.2% through January 2020 (5/12 months)

Global equity markets were mixed in January, resulting in a modest gain of 1.0% (net of fees) for the month. Overall performance was negative, however -- returns were 77 basis points (0.77%) below the Fund's benchmark return for the month and 301 basis points (3.01%) below benchmark for the 12-month period ending January 31, 2020.

The net return after the first five months of the 2019-20 plan year stands at 5.1769% (September 1, 2019 through January 31, 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.

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Friday, 03 April 2020 02:35 am