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Annual Management Report for Fiscal Year 2008 Required by Public Law 107-90, The Railroad Retirement and Survivors' Improvement Act of 2001.
| 题名： | Annual Management Report for Fiscal Year 2008 Required by Public Law 107-90, The Railroad Retirement and Survivors' Improvement Act of 2001. |
| 关键词： | *Personnel-management; *Retirement-; *Survivors-.;Financial-management; Market-; Investments-; Assets-; Benefit-plans; Trust-funds. |
| 摘要： | Fiscal year 2008 (October 1, 2007 - September 30, 2008) was a year of extraordinary challenges for global financial markets and for the National Railroad Retirement Investment Trust ('Trust'). Like many pension funds, the Trust saw a significant decline in market values during the course of the year, particularly in the final quarter. The market volatility continued into the last quarter of the calendar year, with steep market declines occurring particularly in the first weeks of October. As had been the case in September, these market declines occurred across a broad array of asset classes. November was somewhat less turbulent, but again a period of decline. Market conditions appeared to stabilize later in the quarter, with December producing the first positive market returns since the month of May 2008. During Fiscal Year 2008, the net asset value of Trust-managed assets decreased from $32.7 billion on October 1, 2007 to $25.3 billion on September 30, 2008. This amount is net of $1.3 billion that the Trust transferred back to the US Treasury (the 'Treasury') for railroad retirement (tier 2) benefit payments during the fiscal year. The rate of return on Trust managed assets for the year (net of fees) was -19.07%compared to a -17.35%return for the year on the strategic policy benchmark for these assets. |
| 报告类型： | 科技报告 |
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