Contra Costa pension board lowers fund's investment income projections

Following a statewide trend, the Contra Costa County Employees Retirement Association on Wednesday lowered its expectations on how much the $5 billion pension fund will earn from its holdings such as stocks, bonds and real estate.

The trustees reduced the pension fund's annual assumed rate of return by one half a percentage point from 7.75 percent to 7.25 percent.

As a result, it and Orange County now have the lowest rates in the state among the 19 counties with independent retirement systems.

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