unhappy.
said retired engineer michael
boyce:
>> and quite frankly i'm not
going to vote for 7.5%
>> reporter: that's because
dropping the rate of return
assumption would force the state
to come up with some $300
million more a year to replenish
the fund-- a huge hit to angry
taxpayers or their new
scapegoats, state employees.
so board lawyer michael
robinson, pushing to cut the
rate assumption, targeted
workers like boyce.
>> if you were to act contrary
to the recommendations of your
expert without a sound and
considered basis in fact would
really constitute a breach of
your fiduciary obligations.
>> if i follow mike's rationale
i would guess that we shouldn't
even have to be here because if
the actuary says 7.8, do 7.8.
>> no, no, not at all mike.
>> i have the floor please.
i'm taking offense at almost
being told that i better vote to
what exactly he said.