Investments held by the Mississippi Public Employees Retirement System have lost more than 10 percent of their value in the turbulent financial markets the past three months.
But the executive director, Pat Robertson, says the fund is “financially sound” and members have no reason to worry about their pensions.
Robertson told The Associated Press on Wednesday that Mississippi PERS has assets of $17.6 billion – an unaudited figure that was the most recent information available. When the previous budget year ended on June 30, the system had assets of $19.7 billion.
That’s a drop of $2.1 billion.