Because of changes in actuarial math, Minnesota's pension system was transformed from one of the best funded state systems in 2016 to the seventh worst.
The action by the trustees of the $51 billion Employees Retirement System, known as NYCERS, may signal a growing willingness among public pensions to pull their money from these investment vehicles.
The gains, however, are less than the annual investment returns of 7.5 percent to 8 percent that many state and local governments count on to pay benefits for teachers, police and other employees.