PIERRE, S.D. (AP) – Officials say the South Dakota Retirement System is in good financial shape after earning 12.4 percent on investments through the first seven months of the financial year.
State Investment Officer Matt Clark says the system now holds assets of more than $8.5 billion, up from $7.8 billion at the start of the financial year last July.
Rob Wylie, executive director of the Retirement System, says the system is about 98 percent funded, in much better shape than most other public pension plans in the nation. That means its assets are about 98 percent of the value of all potential future benefits to be paid to retirees in state and local agencies.
The system has more than 75,000 members, and most are still working in state government, local governments and schools.
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