The Permanent School Fund Takes A $300 Million Hit

As hardworking Americans of every collar continue to experience shock and awe when opening the latest statements from their retirement programs and investment advisors, the Austin American-Statesman reports that the market downturn has shaved $300 million off the estimated $1.4 billion dollar contribution from the Permanent School Fund to the next state budget.

More worrying is the overall devaluation of the PSF, which, according to this article, has fallen from $25.1 billion last fall to $17.5 billion this fall, erasing most of the Fund's gains in value accrued over the last decade.