U.S. Public Pensions Earn 3.4% for Worst Showing Since 2012
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U.S. state and local-government pensions are coming off their weakest investment performance in three years, weighed down by losses in international stocks and weak bond returns, according to data from Wilshire Associates Inc.
The pensions logged median increases of about 3.4 percent for the 12 months ended June 30, according to data to be released Tuesday by the Santa Monica, California-based consulting firm.