Download or read book Legacy Fund Projections written by and published by . This book was released on 2019 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: This memorandum provides information on projections for the legacy fund, including the fund balance and transfers to the general fund. The projections are based on the current definition of legacy fund earnings pursuant to North Dakota Century Code Section 21-10-12, which defines earnings as dividends, interest,and realized gains and losses, but excludes unrealized gains and losses. The projections reflect oil and gas tax revenue deposits of $660 million per year, the same as the 2019 legislative revenue forecast for the 2019-21 biennium. The projected earnings reflect annual returns of 5.5 percent, including 2 percent of unrealized gains and 3.5 percent of dividends, interest, and realized gains. The legacy fund had actual net annual returns of 7.57 percent for fiscal year 2018 and 4.98 percent for fiscal year 2019 based on the performance reports published by the Retirement and Investment Office.