Chicago Park Employees' Annuity & Benefit Fund lowered its assumed rate of return to 7.5% from 8%, confirmed Michael Spychalski, assistant vice president at Marquette Associates, which is investment consultant for the $420 million pension fund.
The new assumed rate of return was recommended by The Segal Co., the pension fund's actuary.
Separately, the plan named Ullico, J.P. Morgan and Industry Funds Management as finalists for its $20 million infrastructure search. A hiring decision is expected at the June 20 board meeting, Mr. Spychalski said in an e-mail.
An RFP was issued in February.