State and Local Pension Watch: Total Holdings and Investments Rebound in 2010
According to a new report by the U.S. Census Bureau, state and local public-employee retirement systems had $2.7 trillion in total cash and investment holdings in 2010, a $257.2 billion (10.6 percent) increase over 2009. This is the first year that state and local retirement systems have shown positive earnings since 2007, just before financial markets – and public pension assets – took a dive. Those retirement systems saw a $722.2 billion loss in 2009 and a $178.8 billion loss in 2008.
State and Local Retirement Systems: total cash and investment holdings (trillions of dollars) FY 2007 - FY 2010
Data Source: U.S. Census Bureau, 2010 Annual Survey of Public-Employee Retirement Systems
While all states saw an increase in their total cash and investment holdings for state and local retirement systems in 2010, those increases varied significantly. Pennsylvania saw the smallest increase at 2.7 percent, followed by Michigan (+4.0 percent) and Kansas (+5.1 percent). New Mexico had the biggest year-over-year increase, jumping by 25.5 percent followed closely by Wyoming (+22.9 percent) and Wisconsin (+18.8 percent). Check out where your state stands:
State and Local Retirement Systems: Year-over-year change in total cash and investment holdings, FY 2010
Author’s calculations using data from the U.S. Census Bureau