The PA State Employees’ Retirement System Wednesday announced the SERS fund generated $116 million in earnings, net of fees in 2015. According to staff and investment consultant RVK, the SERS portfolio returned 0.9 percent net of fees for the fourth quarter, resulting in a 0.4 percent net-of-fees return for the calendar year.
“During a challenging year in the markets, SERS posted a positive performance of 0.4 percent net of fees, ranking it in the top quartile relative to its peer group of public plans,” explained SERS’ general investment consultant, Jim Voytko. “Since the great financial crisis of 2008, SERS decreased its risk profile and increased its liquidity profile to ensure that $3 billion in retirement benefits are paid annually while returning 7.9 percent net of fees over the same period.”
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