At its November 2019 meetings, the Board of Trustees of the Pension Boards voted to keep the monthly payments from the Basic Annuity and the Participating Annuity unchanged effective January 1, 2020.



Although there was strong investment performance in both annuities, interest rates dropped substantially, which led to slightly lower but still healthy funded status. As a reminder, the Basic Annuity invests only in fixed-income securities, while the Participating Annuity invests in a mix of equities, bonds, and alternative assets. Both Basic and Participating Annuity monthly payments already incorporate a 4% annual growth assumption that continues to be built into the calculation of your lifetime annuity.