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State pension fund tops $13 billion in assets with 5.4% return for last quarter

By Dave Segal

POSTED: 01:30 a.m. HST, Feb 11, 2014

~~<p>Hawaii's largest public pension fund topped $13 billion in assets last quarter for the first time as it inched closer toward closing a shortfall that must be shored up to meet future payment obligations.</p>
<p>The state Employees' Retirement System posted a 5.4 percent investment return in the October-December period to boost its six-month fiscal-year return to 10.97 percent. The fund, which provides retirement, disability and survivor benefits to 115,350 active, retired and inactive state and county employees, targets an annual 7.75 percent fiscal-year return to help fulfill its commitment.</p>
~~

Hawaii's largest public pension fund topped $13 billion in assets last quarter for the first time as it inched closer toward closing a shortfall that must be shored up to meet future payment obligations.

The state Employees' Retirement System posted a 5.4 percent investment return in the October-December period to boost its six-month fiscal-year return to 10.97 percent. The fund, which provides retirement, disability and survivor benefits to 115,350 active, retired and inactive state and county employees, targets an annual 7.75 percent fiscal-year return to help fulfill its commitment. Login for more...



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