How Did Public Employee Retirement Systems Fare During the Market Decline?
U.S. state and local public employee retirement systems lost $726 billion in fiscal year 2009, according to new data. View figures for each state to see how they compare.
Public employee retirement systems were hit hard by the stock market downturn in 2008 and 2009.
New data released today by the U.S. Census Bureau shows state and local government retirement systems lost more than $726 billion in fiscal year 2009. In all, public pension assets dropped nearly 23 percent to $2.5 trillion in total cash and investment holdings.
State and local retirement systems in California reported the largest FY 2009 investment decline, with total losses of more than $141 billion across the state. In New York, government retirement systems lost $77.5 billion.
Figures were compiled from the annual State and Local Public Employee Retirement Systems Survey.
The majority of investment types experienced declines, according to data. Corportate stocks, which make up the largest share of investment holdings, fell nearly 30 percent. Only cash and short-term investments, mortgages, and real property grew in value.
Select your state below to view detailed FY 2009 financial data for state and local government systems.
We invite you to discuss and comment on this article using social media.
GOP Health Bill Gets Support From 8 GOP Governors1 day ago
Failed Equal Rights Amendment to U.S. Constitution Gets New Hope From Nevada1 day ago
Blaming Racism and Sexism, Hawaii Lawmaker Leaves Republican Party1 day ago
Utah Governor Signs Nation's Strictest Drunk Driving Law1 day ago
California Passes Toughest Methane Emission Regulations in U.S.1 day ago
No Permit? No Problem. You Can Still Carry a Concealed Weapon in North Dakota.1 day ago