Public pension funds set a 22-year performance record in the
second quarter, recovering some but not all of their losses from
the first quarter.
Double-digit stock gains pushed pension returns to a median 11.1%
for the second quarter, according to Wilshire Trust Universe
Even with the rebound, median annual returns for the public
pensions whose fiscal years ended June 30 were 3.2%, far short of
the funds’ long-term investment-return target of around 7%.