State retirement fund loses $8.7 million because of Enron

JEFFERSON CITY, Mo. (AP) -- The state employees' retirement fund lost nearly $9 million because it invested in utility company Enron.

Enron recently filed for bankruptcy.

The Missouri State Employees' Retirement System executive director Gary Findlay said Friday that the state has invested in Enron since the company first went public. Many other state retirement funds also invested in Enron.

The $8.7 million loss represents less than 0.2 percent of the $5 billion state retirement fund.

"Eight million sounds like a lot of money but when you look at it ... it's not devastating like it would be for an individual," Findlay said.