The annual financial review of IPERS — the Iowa Public Employees Retirement System — was completed last week. IPERS C-E-O Donna Mueller says the report shows the pension system had 32-point-three billion dollars in assets on June 30th.
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Mueller says in total, about 360-thousand public employees who are retired — OR — are STILL working are IPERS members.
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IPERS was established in 1953 to provide pension payments to public employees in Iowa. Investments account for about 70 percent of the benefits paid out, according to Mueller. Actuaries calculate the net investment return in the past fiscal year was nearly eight percent.