Atlanta Pension Rescue Will Assume Lower Return Rate, Chief Says
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Atlanta, which runs the world’s busiest airport, may lower the assumed rate of return on pension assets as it confronts a $1.5 billion deficit in the funds.
An advisory board developing the city’s options is basing them on an expected earnings rate of 7.25 percent, down from 8 percent, in calculating the size of contributions needed to pay retirees, said John Mellott, chairman of the Atlanta Pension Panel, at a city hall meeting yesterday.