The state's three statewide pension funds, the Minnesota State Retirement System, the Public Employees Retirement Association and the Teachers Retirement Association, announced Friday a boost in their rate of return for fiscal year 2013.
The Pioneer Press reports that the return was 14 percent, a marked improvement over the previous year's rather paltry 2.3 percent.
This comes after changes in 2010 and the past legislative session by lawmakers designed to bring more cash to the pensions.
"We're encouraged by how our funds have rebounded due to strong investment returns in three out of the last four years and the impact of sustainability measures," the director of MSRS tells the St. Paul paper.
Investment gains usually account for about 70 percent of the funds' revenues, easing taxpayer burden on payouts.
The PiPress says the PERA general plan improved from 74 to 77 percent, the MSRS general plan moved from 83 to 86 percent and TRA increased from 73 to 77 percent.