facebook
twitter
rss
account
search
search
 

State, local pension funds rose in 2011

Nov. 15, 2012 at 4:41 PM   |   Comments

WASHINGTON, Nov. 15 (UPI) -- The U.S. Census Bureau said state and local government pension plans rose in value by 13.2 percent from 2010 to 2011.

In 2010, state and local government pension plans were worth $2.7 trillion. That had grown to $3 trillion by 2011, the bureau said.

In real dollars, the pension funds rose by $351.9 billion, compared to a rise of $288.7 billion from 2009 to 2010.

The pension systems changed their investment strategies year to year. Pension funds increased holdings of corporate stocks by 12.5 percent to $1.1 trillion in 2011. That put stocks at 34.6 percent of all of their holdings, the bureau said.

Ownership of corporate bonds fell 0.2 percent to $424 billion. In total, 14 percent of pension fund holdings were made up of corporate bonds.

The big jump was in foreign and international securities, which rose by 24 percent from 2010 to 2011, to reach $523 billion.

U.S. government securities rose by 3.8 percent to $240.9 billion, bringing government securities to 8 percent of their holdings, the bureau said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Talon rocket in full-rate production for UAE Talon rocket in full-rate production for UAE
3
Hotel chain suspending sponsorship of Minnesota Vikings Hotel chain suspending sponsorship of Minnesota Vikings
4
EU, Kiev, Moscow gas talks suspended EU, Kiev, Moscow gas talks suspended
5
Students hurt in high school lab fire Students hurt in high school lab fire
Trending News
Video
x
Feedback