CERS, KRS Pension assets return 9.54%, Insurance assets 10.15% in FY 2023
FRANKFORT—
Buoyed by those returns, General Fund appropriations authorized by the Legislature, and employer contributions, total assets in the systems operated by KPPA increased to a record
The composite for the Kentucky Retirement Systems (KRS) Nonhazardous and Hazardous pension funds was 7.5%, while the KRS insurance fund composite return was 9.7%. KRS includes the pension and insurance funds for the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS).
All pension and insurance fund composite returns exceeded their investment benchmarks of 9.5% for the CERS pension and insurance funds, 7.3% for the KRS pension funds, and 8.7% for the KRS insurance funds.
"The investment staff was able to navigate an extremely challenging investment landscape to deliver strong risk-adjusted performance for the systems and participants by adhering to our disciplined approach and strategy," said
Additionally, long-term rates of return for all pension and insurance funds exceeded the FY 2023 actuarially assumed rates of return, which were 5.25% for the KERS Nonhazardous and SPRS pension funds and 6.25% for all other pension and insurance funds.
The positive investment performance, coupled with actuarially required contributions and legislative appropriations, resulted in a
For more detailed information about FY 2023 returns, including breakouts of individual CERS, KERS, and SPRS funds and asset classes, please visit the Monthly Performance Reports page in the Investments section of KPPA's website. For further information about individual asset classes, consult each system's Investment Policy Statement.
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