After taking criticism for overly optimistic expectations, Omaha's police and fire pension board passed a resolution Thursday saying it stands by its practice of planning for annual investment returns of 8 percent.

“It bugs me when people try to grab headlines based on concepts that, over time, have been solid,” said Aaron Hanson, a pension board member and former head of the police union.

The board points to its historical returns to defend the figure. Since 1980, the fund has returned an annualized 9.4 percent. In that context, the expected return is conservative.

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