For the 100 largest public employee-retirement systems in thecountry, total holdings and investments totaled $2.7 trillion inthe second quarter of 2012, a decrease of 1.7 percent from $2.8trillion last quarter, according to new data by the U.S. CensusBureau.

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Year over year, there was a decrease of 2.1 percent from $2.8trillion in the second quarter of 2011.

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Losses on investments totaled $14.2 billion. Federal governmentsecurities reached the highest level in over 10 years at $244.2billion, second only to when they peaked in the first quarter of2001 at $246.2 billion.

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Public Pension AssetsCorporate stocksdecreased 3.1 percent from the first quarter of 2012, from $974.7billion to $944.7 billion. Corporate stocks year-to-year were up3.9 percent from $909.5 billion in the second quarter of 2011.Corporate stocks comprised more than a third of the total cash andsecurity holdings of major public pension systems for the currentquarter.

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Corporate bonds also decreased quarter-to-quarter, dropping 1.1percent from $370.9 billion to $366.7 billion in the secondquarter. Year-to-year, corporate bonds decreased 15.6 percent from$434.4 billion in the second quarter of 2011. Corporate bondscomprised 13.5 percent of the total cash and security holdings ofmajor public pension systems for the current quarter.

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International securities decreased 7.9 percent from the secondquarter of 2011 to the second quarter of 2012, from $550.4 billionto $507.2 billion. Year-to-year, international securities decreased3.1 percent from $523.3 billion in the second quarter of 2011.International securities comprised 18.7 percent of the total cashand security holdings of major public pension systems for thecurrent quarter.

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Federal government securities, which comprised 9 percent of thetotal cash and security holdings of major public pensions systemsfor the second quarter, reached the highest level in over 10 years,with an 8.8 percent increase from the same quarter last year.Federal securities year-to-year increased 34.2 percent from $182billion in the second quarter of 2011.

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Government contributions quarter-to-quarter decreased 11.5percent, from $24.1 billion to $21.4 billion in the second quarterof 2012 and a year-to-year decrease of 4.9 percent, from $22.5billion in the second quarter of 2011.

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Employee contributions increased 10.7 percent quarter toquarter, from $9.3 billion to $10.3 billion in the second quarterof 2012. There was a year-to-year decrease of 5.7 percent from$10.9 billion in the second quarter of 2011. Governmentcontributions to employee contributions had a 2.1 to 1 ratio thisquarter, with government contributions comprising 67.5 percent andemployee contributions comprising 32.5 percent of totalcontributions.

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Total payments decreased 2.9 percent quarter to quarter, from$55 billion to $53.4 billion in the second quarter of 2012. Therewas a year-to year increase of 1.6 percent from $52.6 billion inthe second quarter of 2011.

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