US public pension funds are facing their worst year of losses in history, exacerbating existing funding shortfalls and putting pressure on state governments to shore them up. In the nine months to the end of September, the average state pension fund lost 14.8 per cent, according to fund company Northern Trust. The loss has grown since, as financial markets slumped further in October. The previous highest loss for state funds was 7.9 per cent for the full year in 2002.

This entry was posted by Tracy Alloway on Monday, October 27th, 2008 at 4:13 and is filed under Capital markets. Tagged with Pensions. Edit this entry.