Iowa Public Employees’ Retirement System’s investments returned 19.91% for the fiscal year ended June 30, according to a statement by the $23.16 billion Des Moines-based system.
The return underperformed its customized benchmark’s return of 20.15% for the same period.
For the three-, five- and 10-year periods ended June 30, Iowa PERS returned an annualized 4.55%, 5.57% and 6.4%, respectively, all underperforming the benchmark’s annualized returns of 5.83%, 6.03% and 6.61%.
Iowa PERS’ actuarial assumed rate of return over the periods was 7.5%.
