Alaska Public Retirement Funds Gain $2.9B; Huge Gap Remains

There is still a $9.7 billion difference between the value of the accounts and what the state will eventually have to pay in retirement benefits.

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By KTVA CBS 11

Story Created: Sep 13, 2011 at 1:00 PM AKDT

Story Updated: Sep 13, 2011 at 1:00 PM AKDT

Big gains have been made, but there is still a big hole in the state's retirement systems.

The Public Employees Retirement System and the Teacher Retirement System, known more commonly as PERS and TRS, make up the largest percentage of the state's retirement accounts.

The state says the funds ended the fiscal year with close to $20 billion in assets gaining a total of $2.9 billion, mostly due to gains in the stock market.

But despite the gains, there is still a $9.7 billion difference between the value of the accounts and what the state will eventually have to pay in retirement benefits.

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Lewis O'Brien said on Tuesday, Sep 13 at 2:09 PM

AT least our elected representatives are not trying to spend the retirement funds on something else.

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lightwell said on Wednesday, Sep 14 at 7:21 AM

Wanna bet?

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jjj said on Thursday, Sep 15 at 8:34 PM

this bogus digital money will disappear over night, you watch! the whole PONZI scheme is coming to an end! courtesy of the new AMERIKA!

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