PIERRE, S.D. (AP) – The South Dakota Retirement System’s assets have grown to a record high after earning nearly 19 percent on investments in the past year.
Managers say the Retirement System’s assets exceeded $10.6 billion at the end of the fiscal year on June 30.
Assistant State Investment Officer Tammy Otten says the retirement system earned about $1.73 billion over Fiscal Year 2013.
This is the second year the system’s assets have neared 20 percent increases. The system saw a 19.5 percent increase in 2013 that brought in close to $1.5 billion more to the system.
The 18.9 percent increase was about 1.4 percent greater than the system’s annual benchmark.