840 CMR: PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION

23.02: Definition of Realized Gain or Loss and Unrealized Gain or Loss

      Pursuant to 840 CMR 23.01, a realized gain (loss) is any profit (loss) sustained on the sale
or maturity of any investment of any system, due to the amount received being more (less) than
the book value on the date of its sale or maturity. An unrealized gain (loss) is any amount by
which the market value of any investment required to be valued at its market value pursuant to
M.G.L. c. 32, § 21, paragraph (b) is more (less) than the value at which such investment was
included in the assets of the system on the date of the last previous valuation.

REGULATORY AUTHORITY

840 CMR 23.00: M.G.L. c. 7, § 50; c. 32, § 21.

7/1/93

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