DALLAS – The unfunded liability of the Kansas Public Employees Retirement System grew by $1 billion in fiscal 2013 to a total gap of $10.2 billion with market losses in the recent recession.

The system’s $13.1 billion investment portfolio posted a net return of 14% in fiscal 2013 and 14.5% in fiscal 2012 but that wasn’t enough to overcome deferred losses from a 30% drop in 2008, executive director Alan Conroy said at a session of a joint committee on pensions and benefits Sept. 5.

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