Orange County Employees Retirement mulls assumed rate change
By Arleen Jacobius | November 26, 2012 4:01 pm
Orange County Employees Retirement System, Santa Ana, Calif., has scheduled a special meeting for Dec. 5 to consider changing the plan's assumed rate of return, said Robert Kinsler, spokesman.
The $9.7 billion pension fund's current assumed rate is 7.75%. The retirement system's actuary, Segal Co., recommended reducing the assumed rate to 7.5% at the board's Oct. 15 meeting, but not all board members were present and the vote was tied. Plan officials scheduled the special meeting for a date when all board members could be present, Mr. Kinsler explained.
Separately, the pension fund returned 8.11% on its investments in the 12 months ended Oct. 31, according to Mr. Kinsler.
The fund also earned an annualized 8.37% for three years and 7.97% for 10 years, both ended Oct. 31.