Total holdings and investments for the nation’s 222 state administered public-employee retirement systems declined for the second consecutive year. In fiscal year 2009, total holdings and investments for these systems decreased 24.0 percent or $641.3 billion, from $2.7 trillion in 2008 to $2.0 trillion in 2009. This followed a decrease of 5.4 percent in 2008, from $2.8 trillion in 2007.