Montgomery, AL – Alabama's public pension system is posting some of the nation's worst returns compared to other funds.
The Teachers' Retirement System had an investment return of 8.4 percent for the year ending Sept. 30. The Employees' Retirement System posted a return of 8.5 percent.
Both funds did better than their 8 percent target. But a nationwide survey by State Street Investment Analytics showed the median return for that period was 10.7 percent for 67 major public pension funds.
In all, more than 90 percent of the funds surveyed nationwide did better than Alabama's.
The longtime head of Alabama's system, David Bronner, said the lower returns were linked to investments in the media and a rail car plant in northwest Alabama.
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