Public Pensions See Assets Grow in Second Quarter

According to the news report, the U.S. Census Bureau reports that assets of the 100 largest public-worker pension plans rose to $2.77 trillion by the end of June from $2.36 trillion a year earlier. The gains were driven by increases in U.S. stocks, corporate bonds, and international securities.

The advance pushed the assets to their highest level in three years, Bloomberg said.

The pension funds earned $51.4 billion on investments during the second quarter, while employee and government contributions also rose. Compared with the first quarter of this year, the assets were up by 1.3%, the worst performance since they slipped during the second quarter of 2010, according to the Census Bureau.