TOPEKA, Kan. (AP) — New data shows that Kansas’ expected low return on pension investments over the past year is a reflection of a national downward trend.
The Topeka Capital-Journal reports that the nonpartisan Pew Charitable Trusts released its report on Wednesday. The report comes days after the one-year anniversary of a $1 million pension bond that infused the state’s public pension system, KPERS, with cash to invest.
According to KPERS director Alan Conroy, early indications show the investments likely earned just enough over the past year to pay the bond’s annual interest of about 5 percent or generate a small profit.
The annual return target is 8 percent.
Pew’s report says public pension systems across the country only produced an average return of 0.9 percent during fiscal year 2016.