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The Honolulu Advertiser

Posted at 12:03 p.m., Tuesday, February 10, 2004

State retirement system gaining

Advertiser Staff

The state Employees’ Retirement System reported a 21.8 percent return on assets for calendar year 2003, propelled by a rebound in its U.S. stock holdings. The pension fund’s value stood at $8.5 billion at the end of last year.

During the three months ended Dec. 31, returns rose by 8.9 percent and assets gained a net $600 million. For the six months to Dec. 31, ERS reported a return of 12 percent.

The pension fund provides benefits for 97,000 state, county and city retirees and their beneficiaries.