PA SCHOOL PENSION FUND POSTS 14.6 PERCENT RETURN

The Public School Employees Retirement System announced yesterday that the Fund posted a positive 14.59 percent for the fiscal year ended June 30, 2010, outperforming the 12.00 percent median return of the Wilshire Associates Inc.’s database of public pension funds and the 10.87 percent return of the Fund’s custom policy benchmark. PSERS Chief Investment Officer Alan Van Noord reported, “PSERS’ investments rebounded adding over $6 billion in net investment income to the Fund over the past fiscal year and earned well above the Fund’s assumed long-term actuarial investment rate of return of 8.00 percent. Check out the Press Releases section of the PLS Capitol Toolbox to read the full statement.

JOBLESS RATE IN WESTERN PA CLIMBS

According to an article in the Pittsburgh Post Gazette, The Pittsburgh region’s unemployment rate followed the state trend by ticking up one-tenth of a percentage point to 8.4 percent for July, the state Department of Labor and Industry reported this morning. The region also lost jobs. The state reported that the seasonally adjusted number fell by 1,800 jobs in the seven counties that make up the Pittsburgh Metropolitan Statistical Area.

Continue reading Eye Opener – August 31, 2010