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Augusta Commission hears pension investment review; 2.8% COLA to take effect March 1
Summary
Investment consultant Randy Snipes reviewed 2024 performance for the '49 and '45 pension plans; the commission received the report as information and the plans will apply a 2.8% cost-of-living adjustment to March 1 checks under plan documents.
Randy Snipes, speaking as a presenter standing in for Heather, summarized fourth-quarter and full-year 2024 performance for Augusta's two municipal pension plans and presented plan-level figures to the Augusta Commission. The governing body received the investment review as information without objection.
Snipes said the fourth quarter was volatile but the plans finished the year with positive returns. He told the commission, “the fourth quarter was an interesting quarter to say the least,” and noted that while the 10‑year Treasury yield moved from about 3.8% up toward 4.4% late in the…
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