Assets of major public pension funds slid 8.5% in third quarter
December 28, 2011 | 9:53am
The stock market’s summer slide took a toll on public pension funds, with the assets of the 100 largest ones down 8.5% in the third quarter of 2011, the Census Bureau reported Wednesday.
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The quarterly decline was the first since early 2010, and the steepest since the fourth quarter of 2008, when the asset total plummeted 13.5% at the height of the global financial crisis.