U.S. Government Pensions Gain 5.5% as Stock Market Rises
This article is for subscribers only.
U.S. state and local government pension-fund assets rose in value by 5.5 percent in the last three months of 2010 as stock market gains helped recoup losses incurred since the financial crisis.
The assets of the 100 largest government employee retirement systems grew by $138 billion to $2.64 trillion by the end of 2010 from three months earlier, the U.S. Census Bureau reported today. The rate marks a slowdown from the previous quarter’s growth of 5.9 percent.