Updated with correction.
New York City may reduce the assumed return on its five pension plans, with $100.5 billion in combined assets, from the current 8%, City Comptroller John Liu said Thursday.
The move would increase the amount of money the city must contribute to the pension funds for civil employees, police officers, firefighters, teachers and school administrators, he said after a speech at the Union League Club in Manhattan.
“The city has maintained an 8% assumed rate for a long time,” he said. “It's fair to say that the assumption will be lowered at some point.”
Mr. Liu didn't say when the change might occur or what the new assumed rate might be.