Pa. government pensions post investment gains

AP News
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Posted: Dec 09, 2009 5:31 PM

Pennsylvania's large public-sector retirement system says it had a good third quarter and its rate of investment returns is in positive territory for the year.

The State Employees' Retirement System said Wednesday it earned 7.1 percent over the three months that ended Sept. 30. That was a gain of $1.6 billion.

It ended the period with a 4.5 percent increase for the year. The system's fiscal year concludes at the end of December.

The state workers' pension and the even larger teachers' pension system are expected to require massive infusions of cash in the coming years.