The pension fund for Utah state employees has taken a beating during the stock market free-fall. But administrators say there's no need to worry.
Utah Retirement Systems was valued at $20 billion last year. It's down 20 percent so far this year, losing $3.5 billion.
URS Executive Director Robert Newman tells the Deseret News all the former highway workers, teachers, firefighters and other public employees should still get the same monthly pension payment. But if the stock market doesn't rebound quickly, contributors to the plan may have to pay more.
The newspaper reports the plan's funds are invested by about 40 different money managers. The funds are split between stocks, bonds, real estate and other investments.