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Retirement

State Beats Weak Forecast For Pension Funds

The state's two largest pension plans outperformed their projections for returns in the last fiscal year, but State Treasurer Denise Nappier said the small returns were a sign that markets are unlikely to produce the "robust returns" seen in recent years.

The Teachers' Retirement Fund and the State Employees' Retirement Fund posted returns of 0.26 percent and 0.25 percent, respectively, for the fiscal year that ended June 30. The state's projection was for no growth, based on an asset allocation study that was last performed in 2012.

Those two funds account for about 90 percent of the state's $29.1 billion in pension accounts. The total average return for all 15 of...

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