Investments

At the Plan’s year end on August 31, 2011, the Trust Fund’s net equity consisted of investments having market values in excess of $548 million. The asset composition was 2% cash or cash equivalents, 40% fixed-income securities, and 58% equities. The total investment portfolio’s time-weighted annual rate of return through September 30, 2011, was (1.7%) for the past year, 4.4% for the past three years and 1.5% for the past five years. The actuarially assumed interest rate is 7.5%. The Plan’s most recent actuarial valuation showed the Plan to be fully funded.

Full Issue: No. 199 - December 2011

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