Third quarter’s the charm
For the 100 largest state and local government retirement systems in the country, the third quarter of 2009 marked the highest value of total cash and security holdings in a year, with an increase of 9 percent from the second quarter of 2009 to almost $2.4 trillion, according to the U.S. Census Bureau. Still, the systems’ total holdings and investments remain below the last peak of nearly $3 billion in 2007. Earnings on investments surpassed previous quarters of the last 20 years with a gain of $138.9 billion in the third quarter of 2009. The U.S. Census information on state and local government retirement systems is available at www.census.gov/govs/www/qpr.html.
Source: U.S. Census Bureau, Finances of Selected State and Local Government Employee Retirement Systems.