pension board meeting IP: 173.65.116.160 Posted on January 28, 2011 at 00:47:09 AM by Tommy Depolis
At todays pension board meeting much of the discussion was about house bill 303 which proposed drastic changes to all pension systems in the state. But later today representative Costello who submitted the bill withdrew it. I guess the pressure on him worked. In other news, Jay Bowen, the funds investment manager reported that as of yesterday the fund went over the 1.5 billion dollar mark and returns for this fiscal year were up 12.1 percent. He also cautioned that it will most likely change as he expects a market correction sometime this year and returns to go back to single digit increases. Nothing new on the Parker law suit as the judge still has not ruled and nothing will happen until he does.
The COLA workshop has not been scheduled but will probably occur at the May pension board meeting. Replies: