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Assets of state pension systems sag

The State Journal-Register | by Doug Finke | January 17, 2013

All five state pension systems saw their net assets decrease in the 2012 budget year, primarily because of anemic investment returns.

Audits of the five state-funded systems released Wednesday show the net assets of the systems dropped by nearly $1.5 billion during the budget year that ended June 30, 2012.

The systems still had assets of nearly $62 billion at the end of the 2012 fiscal year.

The systems' 2012 performance were a reversal from fiscal 2011, when their investment income was higher.

 

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