Marin pension debts eased by stock market surge
By Nels Johnson
Marin County’s pension investments rocketed 18 percent last fiscal year, cutting the Civic Center’s pension debt by $125 million and shaving the tab mounted by San Rafael and other agencies enrolled in the retirement system.
At the same time, more conservative assumptions adopted by pension trustees who approved a new actuarial report this week mean that taxpayers will pay more next fiscal year to finance the program. Employees will pay slightly more as well.
New assumptions include an expectation investments will rise 7.25 percent a year, rather than 7.50 percent. Mortality rates have been revised because retirees are living longer.
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