The head of the one of the state's pension funds says the funds are positioned to ride out the market downturn.
Laurie Hacking, executive director of the Minnesota Teacher Retirement Fund, said the recent turmoil in the stock market is a concern but she said the state's pension fund managers are investing over the long term.
She said retirees and state employees shouldn't be too worried about the market fluctuation.
"We accumulate money and invest over the years well before we have to pay an individual's benefits," Hacking said. "We have lots of time to have good returns on those investments. Yes, we're going to have some down years and we plan for that but we know that eventually that the markets will get back on their feet."
Hacking said the return on investment in the state's pension fund has a good track record. She said it averaged a 10 percent return over the last 30 years.