State Treasurer Dale R. Folwell, CPA, announced today that the state pension plan reported losses of 1.47 percent for calendar year 2018, underperforming its actuarial assumed rate of return of 7 percent. Pension fund assets were valued at $94.2 billion, down from $98.3 billion at the end of 2017. At the same time, the pension plan paid out over $6 billion in benefits – an amount that exceeds the state's debt.