Pension Review Board adopts updated investment‑practice guidance, flags three fire systems' return assumptions The PRB voted to adopt updated guidance for investment practices and performance evaluations and pressed three fire plans using 7.75%+ return assumptions to reassess those assumptions; staff will follow up with letters to actuaries and sponsors.

The Pension Review Board has raised alarms about overly optimistic return assumptions in local fire pension plans, urging a critical reassessment of investment strategies.

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