U.S. public pensions had the largest investment earnings on record in the first quarter of 2012, reports Reuters, offering hope to retirement systems that were battered during the financial crisis.
According to the U.S. Census, earnings totalled $179.2 billion for Q1, which pushed total holdings and investments up 5.6% from the final quarter of 2011, to $2.8 trillion. As well, total holdings and investments increased 0.7% from the first quarter of 2011.
But it still might be a little early to break out the champagne and celebrate.
Keith Brainard, research director for the National Association of State Retirement Administrators warned that with recent stock market tumbles, numbers for the second quarter of 2012 may not be quite as rosy.
“We also have to remember markets go up and down, which illustrates the importance of keeping a long-term view,” he said. “I suspect when the June 30 numbers come out, some of the gains that were experienced in the first quarter will be taken back.”
Read the full Reuters article here.