A report by the Public Employees’ Retirement System of Mississippi shows the state’s pension fund lost money in the past year, which could further damage PERS’s already weakened bottom line.
According to the third quarter report, the fund has been hit with total losses of 0.47 percent so far this year, with the biggest hits coming in stocks. International equities lost 7.36 percent, global equities were off by 4.26 percent and U.S. equities lost 2.42 percent. Stocks represent 60 percent of the plan’s investments.
If the trend holds in the fourth quarter, it’ll be the first year in the red since 2009, when the fund lost 19.4. In the past decade, the annual rate of return for the plan’s investments has been 8.69 percent.