Nevada PERS Portfolio Gains 12.4% - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Nevada PERS Portfolio Gains 12.4%

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Nevada's Public Employees Retirement System saw a double-digit percentage gain in value during the last fiscal year.
 
The 12.4% 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 (http://bit.ly/14b2CPO) that the results exceeded a goal of 8% gains.
 
The 2013 return followed a 2.9% gain in 2012, a record 21% gain in 2011 and a 10.8% return in 2010.
 
Bilyeu says the fund's annualized return for the last 29 years is 9.3%, 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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Information from: Las Vegas Review-Journal, http://www.lvrj.com  (AP)

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