Monday, January 4, 2010

La. retirement funds up

The four state retirement systems are heading into the new year with a better outlook for 2010 than the last year offered.

The two largest state systems — those for state government employees and schoolteachers — hit around 14 percent in returns over the first five months of the new fiscal year, which started July 1.

The Louisiana State Employees’ Retirement System assets grew from $7.4 billion in value last fall to $7.76 billion at the end of this November.

Retirement system officials are pleased, but mindful of the market’s ups and downs and their long-term investment decisions.

“Past performance is no indicator of future performance,” said Cindy Rougeou, director of the state employees’ system.

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