Kansas recently issued $1 billion in bonds and gave the money raised to the state’s pension plan to invest. This all took place right around the time the stock market started to show signs of a downturn.
However, KPERS Executive Director Alan Conroy isn’t worried. He doesn’t believe recent market losses will have a long-term impact on the investments.
“As a large, institutional investor that’s in for the long haul, that 50-year outlook, there’s going to be lots of ups and downs over 50 years. We’re not day traders,” Conroy says.