TOPEKA, Kan. — In a story Aug. 25 about Kansas’ expected low returns on pension investments, The Associated Press erroneously reported the value of the pension bond mentioned in the second paragraph. The bond is worth $1 billion, not $1 million.

A corrected version of the story is below:

Kansas predicts low pension investment returns

New data shows that Kansas’ expected low return on pension investments over the past year is a reflection of a national downward trend

TOPEKA, Kan. — New data shows that Kansas’ expected low return on pension investments over the past year is a reflection of a national downward trend.

The Topeka Capital-Journal (http://bit.ly/2bleSme) reports that the nonpartisan Pew Charitable Trusts released its report on Wednesday. The report comes days after the one-year anniversary of a $1 billion pension bond that infused the state’s public pension system, KPERS, with cash to invest.

According to KPERS director Alan Conroy, early indications show the investments likely earned just enough over the past year to pay the bond’s annual interest of about 5 percent or generate a small profit.

The annual return target is 8 percent.

Pew’s report says public pension systems across the country only produced an average return of 0.9 percent during fiscal year 2016. According to the report, pension systems only earned a return of 3 percent in fiscal year 2015 in contrast to a 17 percent average return the year before.

The report said most governments that sponsor pension plans made contributions that weren’t large enough to reduce debt based on expected long-term rates of return.

“We’ve seen this shift from being almost entirely in relatively safe assets to 75 percent in riskier and more complicated assets,” said Pew researcher David Draine.

Final figures for Kansas will be available in September.