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that several low temperatures were set or tied across the state. Precipitation was scattered throughout, with an average of 6.6 days of fieldwork.
• Topsoil moisture was rated at 51 percent very short, 30 percent short and 19 percent adequate.
• About 84 percent of corn has reached the dough stage and 44 percent the dented stage, both ahead of the five-year averages.
• Seventy-one-percent of cattle conditions were rated good to excellent range, 23 percent fair and 6 percent poor to very poor.
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SD Retirement System has modest investment return
CHET BROKAW,Associated Press
• PIERRE, S.D. (AP) -- The South Dakota Retirement System's assets dropped slightly in the past year after modest investment gains were offset by the cost of paying benefits to retirees, officials said Monday.
• State Investment Officer Matt Clark said his office earned $142 million on a return of 1.9 percent on stocks and other investments for the year that ended June 30. But after benefits were paid to retirees, the Retirement System's assets dropped to about $7.84 billion, down $91 million from a year earlier, he said.
• Clark and Wes Tschetter, chairman of the council that advises the Investment Office, told a legislative panel that the key to the Retirement System's health is long-term growth, not just one year's investment performance.
• Tschetter pointed out the 1.9 percent investment gain in South Dakota's system last year was far better than the 1.2 percent average gain by similar state pension systems around the country. In the past decade, South Dakota has far outgained (Continued on page 36)
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