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.
