Nevada’s PERS investments show strong returns

CARSON CITY – Nevada’s Public Employees’ Retirement System saw a return on investments of 17.6 percent in fiscal year 2014, the fourth best in its 30-year history, an official with the agency said Monday.

The un-audited numbers provided by Executive Officer Tina Leiss show that the fund gained $4.8 billion in assets in the fiscal year that ended June 30.

The $33.5 billion in assets is a record high for the public employee pension fund that covers nearly all state and local government employees, she said in an email.

The fund is invested primarily in stocks and bonds but has other investments including real estate.

The 2014 return comes after a 12.4 percent gain in 2013. The fund grew by 2.9 percent in 2012 and a record 21 percent in 2011.

The fund’s 2014 fiscal year return ranks it in the top 25 percent of peer pension funds, Leiss said in the email.

Not including the 2014 fiscal year performance, the fund’s annualized rate of return is 9.5 percent since inception nearly 30 years ago versus the long-term actuarial objective of 8 percent.

There are about 100,000 active public employees who are members of PERS.

The retirement board overseeing the plan is expected to hear a report on the 2014 performance at its meeting later this week.

Contact Capital Bureau reporter Sean Whaley at swhaley@reviewjournal.com or 775-687-3900. Follow him on Twitter @seanw801.