The Pennsylvania State Employees’ Retirement System Wednesday announced earning a net-of-fees return of 4.5 percent for the fourth quarter of 2013, resulting in a return of 13.6 percent for the calendar year, which added more than $3.3 billion to the fund.
“Even after paying nearly $2.9 billion in benefits to our members in 2013, the SERS Fund ended the year $1.6 billion larger than it started,” said David E. Durbin, Executive Director. “That’s certainly good news. The investment portfolio outperformed the assumed rate by more than six percentage points.”
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