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.
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Source: U.S. Census Bureau
