With the European sovereign-debt crisis worsening coupled with the U.S. credit downgrade from AAA to AA by S&P, the global financial markets were extremely volatile. Investors sought cash and government bonds for protection as a result. The stock market, as represented by the S&P 500 index, had one of the worst quarters in history, declining 13.9% for the third quarter. During this market environment, the Fund had a return of -11.4%, gross of fees. The Fund’s fixed income and real estate allocation increased by 2.6% and 0.3%, respectively. The market value of the Fund as of September 30, 2011 was $3.83 billion.
1099-R forms for 2011 have been mailed. If you have not received your form by February 15, 2012, please call the ERS office to request a replacement. Please note that these forms are produced and mailed offsite; therefore, they will not be available on a walk-in basis. Requests will be processed in the order received.
Other recent news can be found on the most recent newsletter.
Other important information can be found on our Frequently Asked Questions page.
Last updated: February 8, 2012
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