Investments

PSRS and PEERS earned returns of 13.0% and 12.7%, respectively, for the fiscal year ended June 30, 2010. Assets increased through investment earnings by almost $3 billion over the previous year as each major asset category generated returns in excess of established policy benchmarks. The total plan return of 13% exceeded both the total plan policy benchmark of 11.3% and the actuarial assumption of 8.0%.

The PSRS/PEERS internal investment staff and external investment managers added value above the policy benchmark of over $325 million, net of all fees and expenses, for the year. “Our goal is to provide solid retirement benefits to our members,” says Steve Yoakum, PSRS/PEERS Executive Director. “Our internal investment staff continues to skillfully navigate volatile markets and produce competitive returns at a lower level of risk than most large public pension plans throughout the country. This year the PSRS/PEERS investment staff added significant value above our benchmarks which helps lower the cost to all of our members and school districts.”

PSRS/PEERS maintain a diversified asset allocation of stocks, bonds, real estate, hedged assets and private equity. In the last year, the PSRS/PEERS U.S. stock portfolio delivered a return of 16.1%, global equity returned 12.5%, private equity increased 19.3% and the hedged asset portfolio produced a return of 17.2%. The Systems continue to have a large allocation to the safest and most liquid asset in the world (U.S. Treasury securities) which increased 7.4% in the fiscal year.

The total assets of both PSRS and PEERS were approximately $26 billion on June 30, 2010, making the combined entity larger than all other public retirement plans in the state combined and the 44th largest defined benefit plan in the United States.

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	PSRS/PEERS Generates Solid Investment Returns *PSRS returns 13% for fiscal year 2010* PSRS and PEERS earned returns of 13.0% and 12.7%, respectively, for the fiscal year ended June 30, 2010. Assets increased through investment earnings by almost $3 billion over the previous year as each major asset category generated returns in excess of established policy benchmarks. The total plan return of 13% exceeded both the total plan policy benchmark of 11.3% and the actuarial assumption of 8.0%. The PSRS/PEERS internal investment staff and external investment managers added value above the policy benchmark of over $325 million, net of all fees and expenses, for the year. “Our goal is to provide solid retirement benefits to our members,” says Steve Yoakum, PSRS/PEERS Executive Director. “Our internal investment staff continues to skillfully navigate volatile markets and produce competitive returns at a lower level of risk than most large public pension plans throughout the country. This year the PSRS/PEERS investment staff added significant value above our benchmarks which helps lower the cost to all of our members and school districts.” PSRS/PEERS maintain a diversified asset allocation of stocks, bonds, real estate, hedged assets and private equity. In the last year, the PSRS/PEERS U.S. stock portfolio delivered a return of 16.1%, global equity returned 12.5%, private equity increased 19.3% and the hedged asset portfolio produced a return of 17.2%. The Systems continue to have a large allocation to the safest and most liquid asset in the world (U.S. Treasury securities) which increased 7.4% in the fiscal year. The total assets of both PSRS and PEERS were approximately $26 billion on June 30, 2010, making the combined entity larger than all other public retirement plans in the state combined and the 44th largest defined benefit plan in the United States.