Retirement Systtem’s Assets Grow to Estimated $10.8 Billion

PIERRE, S.D. (AP) — The South Dakota Retirement System's assets have grown to an estimated $10.8 billion after earning an estimated 4.5 percent on investments so far this fiscal year.

The pension fund's board of trustees met on Thursday in Pierre.

The estimated 4.5 percent return is for fiscal year 2015, which ends on June 30th.

State Investment Officer Matt Clark says he's surprised to see gains as high as 4.5 percent and says the "good times have run out of gas."

Clark says he expects earnings will be disappointing for some time unless there's a steep downturn that makes the markets less expensive.

The Retirement System's assets were about $10.6 billion at the end of the 2014 fiscal year.

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