Pension system shows strong earnings

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Updated: 1/20 1:02 pm

CARSON CITY, Nev. (AP) — The state pension system that covers Nevada government workers continues to show strong investment earnings.

The Public Employee Retirement System of Nevada reports an 11.3 percent return on its investments for the first six months of the current fiscal year.

For the previous fiscal year that ended June 30, the system saw a 12.4 percent return on investments amounting to $2.9 billion.

The Las Vegas Sun reports a study by the accounting firm Aon Hewitt shows benefits to Nevada retirees are equal to many other large public employee systems but "are not overly generous."

Nevada's public employee pension plan covers about 100,000 active state and local government workers and pays benefits to about 46,000 retirees.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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