NM Education Pension Fund Earns 11% Investment Return
New Mexico's educational pension fund has grown by about $700 million during the past year because of strong investment returns.
The Educational Retirement Board reports that the pension fund's assets were valued at $10.1 billion at the end of June. That's up from $9.4 billion a year ago.
The fund had an investment return of 11 percent during the past fiscal year. It has averaged a 10.7 percent annual return over the past three years and 7.6 percent annually during the last decade.
The board has set a target of earning 7.75 percent yearly investment returns.
The educational pension program covers about 37,000 retirees and 61,000 workers ranging from public school teachers and principals to college faculty.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.