Officials from the Maine Public Employees Retirement System told lawmakers today that their assets have dropped nearly $3 billion since July.

Peter Leslie, chairman of the retirement system board, said the assets were $10.5 billion on July 1, but were $7.6 billion as of Wednesday. That's a 28 percent drop.

"It puts us pretty much in the same boat as public retirement systems all around the country," he said.

However, the system will continue to have enough money to pay out benefits to state retirees for years to come, said Gail Drake Wright, executive director of the retirement system.

"The money we have will pay those retirement benefits way, way into the future," she said. "There's no immediate danger of there not being sufficient cash to pay those benefits."

The retirement system has more than 90,000 members, which includes current and retired state employees, teachers, legislators, judges and others.