State and local pension funds saw the earnings on their investments rise more than 300 percent between 2012 and 2013, fueling much of the increase seen in state government revenues.

Earnings on pension fund investments skyrocketed 311.9 percent, from $93.1 billion in 2012 to $383.3 billion in 2013.

State insurance trust revenue jumped by 89.7 percent between 2012 and 2013, growing from $255.8 billion to $485.2 billion, according to new data from the U.S. Census Bureau. The increase in insurance trust revenue was responsible for close to three-quarters of the 16.3 percent increase in state government revenue seen over the period.

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