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August 16, 2013 / jimnv

PERS Still Doing Well

PERS, the state’s Public Employee Retirement System is doing well financially. The doom and gloomers, especially those in conservative think tanks are undoubtedly annoyed with this. PERS reported a 12.4 percent increase in value of its investment fund for the 2013 fiscal year (July 1, 2012 through June 30, 2013). In the past 29 years, the state retirement system’s rate of return has been 9.3 percent. And, this is after paying investment fees. PERS assets are $29 billion which is an all time high. With this kind of news, it is very hard to say PERS is bankrupt or poorly managed. Maybe that is why the think tanks and foes of the retirement system were quiet during the last legislative session.

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These links are from the PERS website:

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