Taxpayers and public school employees should expect some good news later this year when one of state’s major public pension systems releases its investment returns for the most recent fiscal year.
The state Public School Employees Retirement System, or PSERS, earned nearly 15 percent during the fiscal year that ended on June 30. A press release on the organization’s website Monday revealed the latest findings.
Exceeding the annual investment earnings assumption of 7.5 percent helps to ease the burden of the unfunded liability that must be made up in the future by some combination of future investment returns, contributions from workers and tax dollars.
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