Tennessee Consolidated Retirement System, Nashville, returned a net 4.9% for the fiscal year ended June 30, confirmed Shelli King, spokeswoman for state Treasurer David H. Lillard Jr., who oversees the pension fund.
The $53.4 billion pension fund's return fell short of its policy benchmark return of 5.4%, according to a performance report posted its website.
For the three, five and 10 years ended June 30, TCRS returned an annualized net 6.9%, 6.9% and 8.9%, compared to the respective benchmarks of 6.9%, 7.1% and 8.9%.
TCRS returned a net 7.5% for the fiscal year ended June 30, 2019.