New Hampshire Retirement System, Concord, lowered its assumed rate of return to 7.25% from 7.75%, spokesman Marty Karlon said.
The $7.2 billion pension fund will adjust its investment policy to reflect the new assumed rate of return based on the results of a five-year actuarial experience study conducted by actuarial consultant Gabriel Roeder Smith & Co.
The new assumptions will be used to establish employer contribution rates this fall for fiscal years 2018 and 2019.
Separately, the pension fund renewed contracts of its active domestic large-cap value equity managers Institutional Capital and LSV Asset Management, which run $207 million and $243 million, respectively, through May 31, 2018.
