State pension fund investments foundering (2003)

From Steve Ohlemacher’s article, Teacher pension losses don’t stop spending

Cleveland Plain Dealer, 06/08/03

[This is an attempt to put into prose form what originally appeared as a bar graph, which would appear too small to read in this blog. KBB]

State pension fund investments foundering

A performance review commissioned by the Ohio Retirement Study Council, a legislative committee, found that the five-year returns for all five public employee pension funds in Ohio were “troubling.” Here are the five-year, three-year and one-year annualized returns for all five funds, as of Dec. 31, 2002.

[Percentages are indicated in the following order: 1-year, 3-year and five-year]

State Teachers Retirement System: -11.6%; -6.6%; +1.8%

Highway Patrol Retirement System: -8.4%; -3.9%; -0.4%

Public Employees Retirement System: -10.8%; -5.5%; +1.6%;

Police & Fire Pension Fund: -9.9%; -5.0%; +2.1%

School Employees Retirement System: -11.6%; -6.0%; +2.4%

Source: Ohio Retirement Council