Colorado Fire & Police Pension Association, Greenwood Village, reduced its investment return assumption to 7.5% from 8%, according to a news release from the $3.2 billion fund.
The change, recommended by the system’s actuary, Gabriel Roeder Smith, will be effective for actuarial valuations beginning Jan. 1.
Dan Slack, the association’s CEO, said in a telephone interview that the system conducts an “actuarial experience study” roughly every five years to determine whether actuarial factors have changed.
“With all that’s happened in the last few years with the market downturn in 2008 and all the turmoil that’s taken place in the markets, it’s timely to do this,” he said.
As of Jan. 1, the plan was 102.9% funded, Mr. Slack said.