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Article: New Mexico State-Managed Pension, Trust Funds Lose $80 Million in WorldCom.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 29, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Aaron Baca, Albuquerque Journal, N.M. Knight Ridder/Tribune Business News
Jun. 29--ALBUQUERQUE, N.M. -- New Mexico pension and trust funds managed by the state have lost more than $80 million because of the collapse of WorldCom, state officials said this week.
The losses, which were recorded by the state's four largest investment funds held for the state, retired teachers and state workers, while seemingly large, are less than a half a percent of those funds' holdings managers for the funds say.
"This is not going to impact the payment to retirees of their pensions at all," said Frank Foy, the chief investment officer for the New ...