The defined benefit AMO Pension Plan ended its fiscal year September 30 with a positive return on investment of 8.7 percent.
This significant development occurred despite a turbulent time for investment markets as a consequence of the COVID-19 pandemic, which has raged nationwide since the federal health emergency was declared in mid-March.
Like every institutional investor, the AMO Pension Plan suffered staggering immediate losses on Wall Street during what was described as the worst period ever for financial markets.
However, the Plan began recovering its losses in May and remained on the positive side of the ledger through October 1.
Horizon Actuarial Services, the AMO Pension Plan's consultants, are now certifying the Plan's funded status as required by federal law. The most recent analysis put this status at 85 percent - well in the "green zone" as defined in the Pension Protection Act of 2006.