News roundup: LASERS named among 10 best state pension plans in the U.S. ... RSD aims to rein in expulsions from N.O. schools ... American industrial production rose in June
On solid ground: The Louisiana State Employees' Retirement System has been recognized by Pensions & Investments and FundFire, a pair of national financial publications, as being among the top 10 state pension plans in the United States. The ranking was based on an analysis of 10-year annualized investment returns and was conducted by Cliffwater LLC. Though the market experienced two significant corrections, including the Great Recession, during this decade, LASERS earned a 6.7% annualized return for the 10-year period ended June 30, 2011. Returns among the other top 10 systems ranged from 7.1% to 6.5%.
In through the out door: In a move to stop charter schools from expelling students too frequently, the Recovery School District, the state agency running most of New Orleans' public schools, has issued new guidelines on what constitutes the kind of behavior that will get a student thrown out. The Times-Picayune has the full story on the RSD's new expulsion guidelines here.
Hear them steel rails humming: U.S. industrial production rose 0.4% in June as factories made more cars, machines and business equipment, the Federal Reserve announced this morning. Factory output recovered to levels reached earlier this spring but appears to be leveling off. Factory output rose 0.7% last month, after falling by the same amount in May, the Fed says. Factories produced more machines and vehicles used by businesses. Mining activity increased 0.7%, while utility output fell 1.9%.
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