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Amid concerns of a recession, pension plan returns fall short

from Governing

Public pension plans are missing their investment earnings expectations for the first time in three years, a development that could strain future state and local budgets amid rising concerns that the national economy is slowing. Plans with more than $1 billion in assets earned a median return of 6.79 percent for the fiscal year ending June 30, according to the firm Wilshire Trust Universe Comparison Service. That's below those plans' median long-term expected rate of return of 7.25 percent. more


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