Study Of 10-Year State Pension Returns Highlight Full Extent Of Public Pension Ponzi

zerohedge.com / by Tyler Durden / Oct 4, 2017 11:50 AM

A new study of public pension returns by Cliffwater LLC has found that the median U.S. state pension plan returned just 5.9% annually over the 10 years ended June 30, 2016.  Meanwhile, as Pension and Investments notes, the top performing state pension, the $15.6 billion Oklahoma Teachers’ Retirement System, was the only fund that managed to eek out a return over 7% during the same period.

U.S. state pension plans returned a median annualized 5.9% for the 10 years ended June 30, 2016, vs. 6.8% for the 10 years ended June 30, 2015, said Cliffwater’s most recent annual state pension performance report.

The average 5.7% return for the 10 years ended June 30, 2016, fell within a wide range of individual pension plan returns (3.7% to 7.1%).

Once again, the two top-performing state pension plans for the period were the $15.6 billion Oklahoma Teachers’ Retirement System, returning 7.1%, and the South Dakota Investment Council returning 6.8% for the $10.5 billion South Dakota Retirement System. In third place was the $7 billion Missouri Local Government Employees Retirement System, returning 6.7%. All returns cited are annualized figures.

READ MORE

The post Study Of 10-Year State Pension Returns Highlight Full Extent Of Public Pension Ponzi appeared first on Silver For The People.