State defined benefit pension plan investment earnings rose a total of 41.1% in 2011, growing for the second consecutive year after two years of losses, according to data released Thursday by the Census Bureau.
Investment earnings grew to $410.6 billion from $291.1 billion in 2010, according to the 2011 Annual Survey of Public Pensions: State-Administered Defined Benefit Data, which covers 222 retirement systems.
The largest holdings growth came in international securities, which grew 24.1% in 2011, and real estate, which grew 28.6%. Corporate stocks increased 13.8%, and federal government securities increased 7.4%.
The only decrease was in corporate bonds, which dropped 2.1%.
Other investments, which includes private equity, hedge funds, venture capital and REITs, increased 15.6%, but individual growth rates by type were not available.
Among the 222 state retirement systems, corporate stocks accounted for 34.3% of assets; international securities, 17.5%; corporate bonds, 13.8%; federal government securities, 8.1%; and real estate, 4.2%. A selection of other securities and investments accounted for 17.8% of assets while cash and shorter-term investments accounted for 4.2% rounding out the holdings, the Census Bureau reported.
Total cash and investment holdings reached $2.5 trillion, a 14.6% increase from 2010.
The largest holdings were in California's plans, with $433.3 billion, followed by New York with $235.4 billion, Texas with $165.5 billion, Ohio with $150.3 billion and Florida with $134 billion.