PIERRE, S.D.(WNAX)- The South Dakota Retirement System finished the fiscal year on June 30th with investments worth just over fourteen point one billion dollars. That was down about a half billion from last year.
Despite the loss in assets, the investments finished over twelve percent ahead of the benchmark funds.
Assistant State Investment Officer Tammy Otten told the Board of Trustees that they came back from last year’s slide.
Otten says their goal is to add about one percent of value a year.
Otten says they have pulled back from overall stock market investments this year.
Retirees got a three-point five percent increase in benefits last year, but that will probably be around two percent this year.