MONTGOMERY, Ala. (AP) — Two recent reports by show that returns for the state pension program have trailed many similar pension funds over the past five years. But they have performed better in the past six months.
The CEO of the Retirement Systems of Alabama, David Bronner, said the pension fund's stocks and bonds have performed as well or better than any other fund. But its investments in Alabama businesses, hotels and golf courses have kept the total returns down until recently.
Two new reports produced by business experts at Alabama and Auburn show what kind of impact those in-state investments have had. One report says they were responsible for more than 4,300 jobs and $542 million in payroll last year. Bronner says the investments ranging from convention hotels to the Robert Trent Jones Golf Trail have helped reshape Alabama.