- Associated Press - Thursday, June 4, 2015

PIERRE, S.D. (AP) - The South Dakota Retirement System’s assets have grown to an estimated $10.8 billion after earning an estimated 4.5 percent on investments so far this fiscal year.

The pension fund’s board of trustees met on Thursday in Pierre.

The estimated 4.5 percent return is for fiscal year 2015, which ends on June 30.

State Investment Officer Matt Clark says he’s surprised to see gains as high as 4.5 percent and says the “good times have run out of gas.”

Clark says he expects earnings will be disappointing for some time unless there’s a steep downturn that makes the markets less expensive.

The Retirement System’s assets were about $10.6 billion at the end of the 2014 fiscal year.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide