New York City will lower its assumed rate of return on its pension funds, which will increase the amount the city contributes, Comptroller John Liu said Thursday.

“It’s fair to say that that assumption will be lowered at some point,” Liu said after delivering a speech at the Municipal Forum of New York luncheon in Manhattan. “The city has maintained its 8% assumed rate of return for a long time but I know that there are efforts to reexamine that assumption.”

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