Officials say IPERS pensions safe - KWWL - Eastern Iowa Breaking News, Weather, Closings

Officials say IPERS pensions safe

DES MOINES (KWWL)-- The economic turmoil has Iowa's public employees fearing a drop in their pensions, but state officials say they are safe.

A state official says the Iowa Public Employees Retirement System (IPERS) has enough money in cash and bonds to wait out the market struggles.

IPERS serves 300,000 public employees.

IPERS had a negative 1.3% return on its investments in the last fiscal year, which ended before the recent market freefall and federal bailout plan.

Online Producer: Michelle Caldwell

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