HEADLINES : Illinois
Assets of state pension systems sag
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.