Rhode Island to lower pension fund return to 7 percent

STATE OFFICIALS are lowering the pension funds assumed rate of return to 7 percent from 7.5 percent. / PBN FILE GRAPHIC LISA LAGRECA
STATE OFFICIALS are lowering the pension funds assumed rate of return to 7 percent from 7.5 percent. / PBN FILE GRAPHIC LISA LAGRECA
PROVIDENCE – The R.I. Retirement Board on Monday approved a proposal to lower market-return expectation for the state’s $7.9 billion pension fund. The board voted 12-1 in favor of lowering the state’s assumed rate of return to 7 percent from 7.5 percent, an estimate for how much the state thinks it can make investing its…

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