[Vision2020] PERSI Update

[Donovan Arnold]

Yeah, but the value of the dollar is going to plummet as the government prints up an additional $2 trillion dollars to try and bail out all the billionaires from their bad mortgage loans.  
 
The economy is shot. And inflation is rampant. The inflation of food and gas is in double digits. Cost of living index is up 5%, while our income actually declines.
 
Best Regards,
 
Donovan
 


--- On Fri, 9/19/08, Tom Trail <ttrail at moscow.com> wrote:

From: Tom Trail <ttrail at moscow.com>
Subject: [Vision2020] PERSI Update
To: vision2020 at moscow.com
Date: Friday, September 19, 2008, 2:09 PM

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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