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July 17, 2013
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PERS portfolio gained 12.4 percent in past fiscal year

Nevada’s Public Employees Retirement System saw a double-digit percentage gain in value during the last fiscal year.

The 12.4 percent return on investment amounts to $2.9 billion, bringing the system’s total assets to $28.7 billion.

PERS Executive Director Dana Bilyeu tells the Las Vegas Review-Journal ( that the results exceeded a goal of 8 percent gains.

The 2013 return followed a 2.9 percent gain in 2012, a record 21 percent gain in 2011 and a 10.8 percent return in 2010.

Bilyeu says the fund’s annualized return for the last 29 years is 9.3 percent, 1.3 percentage points above performance targets.

An update on the system’s long-term unfunded liability will be reported in November.

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The Nevada Appeal Updated Jul 17, 2013 12:21PM Published Jul 18, 2013 12:45PM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.