[Vision2020] PERSI Update

[joekc at roadrunner.com]

Rep. Trail,

Thanks very much for providing this information!

--
Joe Campbell

---- Tom Trail <ttrail at moscow.com> wrote: 
> Visionaries:
> 
> There has been a great deal of concern about the financial markets and
> impact on pension funds.   Many Latah citizens are covered by the state
> retirement fund--PERSI.  I just talked with Alan Winkle, Dir. of PERSI.
> This is his up to date report on PERSI.
> 
> Basically the report is good.  PERSI shows the return for the month down
> about 5.5% and for the fiscal year 6%.  This puts the fund at about 
> $10.2 billion and reflects an approximate loss of about $650 million. 
> This puts
> PERSI back to about the same level as in 2005.
> 
> Most of the losses are from general market impact rather than 
> specific investment in troubled companies.  PERSI does not hold 
> shares in Fannie or Fredie May, Lehman Bros., AIG, etc.  The market 
> is up almost another 300 points today but that can change in a 
> heartbeat.
> 
> In essense the fund is in good hands, and it is certainly doing much 
> better than many other pension funds.
> 
> Rep. Tom Trail
> -- 
> Dr. Tom Trail
> International Trails
> 1375 Mt. View Rd.
> Moscow, Id. 83843
> Tel:  (208) 882-6077
> Fax:  (208) 882-0896
> e mail ttrail at moscow.com
> 
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