Market Rout Sends State and City Pension Funds to Worst Year Since 2009 - The Wall Street Journal

Simultaneous declines in stocks and bonds hammered public pension funds in the latest fiscal year, adding to pressure on government finances.

Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data released Tuesday, their worst annual performance since 2009 and a fresh… [+541 chars]

full article...