PIERRE, S.D.(WNAX)- A sliding stock market is a problem and an opportunity for the South Dakota State Retirement System.

State Investment Officer Matt Clark says the overall market hasn’t dropped enough for them to become aggressive buyers yet.

Clark appeared before the Government Operations and Audit Committee last week and said they are showing a modest gain so far this year.

Clark says he is concerned that this year might be one of limiting the losses.

The state retirement system has over fourteen billion dollars in managed assets.