SD Retirement System Recovers Investment Losses

     PIERRE, S.D. (AP) - Officials say investment earnings have
boosted the South Dakota Retirement System's assets by about 22
percent for the state budget year that ends this week.
     That means the retirement system has recovered all its losses
from the economic downturn.
     Rob Wylie, the system's executive director, says the public
pension fund is either fully funded or close to being fully funded
as of June 30, the annual date for measuring the system's financial
condition. That means the system's assets are 100 percent of the
value of all potential future benefits to be paid to retirees.
     State Investment Officer Matt Clark told state lawmakers Monday
that his agency hit a home run coming out of the financial crisis.
     The report to a legislative committee confirms earnings
predictions Clark made several months ago.