INVESTMENTS AREN’T HELPING As we have said many times, KRS desperately needs to hit its assumed 7.5 percent rate of investment return to help the KERS non-hazardous fund from sinking even lower. (The other funds are not nearly as vulnerable.) Unfortunately, the news is not good so far for the fiscal year that started July 1. KRS is reporting that the overall pension fund gained 0.54 percent in November, compared to the benchmark of 0.65 percent. For the fiscal year, pension investments have lost ground, -0.06 percent. These results mean we’re going to have to make up a LOT of ground over the next seven months to make 7.5 percent for the fiscal year. With a declining asset base, a lagging market accentuates losses in our KERS non-haz fund that a stable fund would simply shrug off. https://kyret.ky.gov/Monthly%20Performance%20Updates/November-2014-monthly-update.pdf
Posted on: Tue, 06 Jan 2015 20:35:01 +0000
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