"The ERS Board of Trustees had expected 7.65 percent returns from its market investments in 2016.  Instead, the investments lost 1.2 percent, the worst showing since 2009."
I guess Bernie Madoff is advising them from his jail cell.
The ERS Board have been doing nothing but playing a shell game with the public in order for the Dem controlled government to spend, what should have been contributed all along, money for other pet projects and vote buying.  If I was a government employee with another 15 years till retirement, I would be very worried.