i'm helen bloom. i am going to speak about the investment return assumption.g level for the fund depends on a number of unknowable future events, one of which is the estimate of the fund's future investment returns. since according to the city charter the fund must be fully funded an increase in the estimate of the future returns can result in a corresponding decrease in the need for current city contributions. the reverse is also true. a decrease in the estimate of the future returns can result in the need of the city to increase its current contributions. the assumed rate of return now is 7.66% through 2013. it will then go to 7.5%. the assumed rate of return is set by the retirementrmjb there is pressure on the board from the city to keep the assumed rate of return high so that the city does not have to put more money into the fund. money put into the fund by the city means less money available to pay for other city obligations. there is also pressure on the retirement board to keep the assumed rate of return high from union officials so that employees are