Public pension funds across the United States are feeling the sting of major losses after two tech-linked banks failed earlier this month. The investors who have been affected by the bank failures include pension funds responsible for providing retirement benefits for teachers, firefighters, and other government workers. The pension funds have seen the benefits of bull markets in the past, but have been hit hard by investments that have gone sour. Last year, many of these funds lost a significant amount of value when their investments in Russian assets became nearly worthless after the world cut off Russia’s economy. The latest losses have been difficult for those who rely on the pension funds for their retirement. “It’s a huge blow to our retirement funds,” said one teacher who is relying on the pension fund for their retirement. “We were counting on that money to help us in our later years, and now it’s gone.” The pension funds are now trying to determine how to make up for the losses. Many are looking to diversify their investments and reduce risk, while others are looking to increase contributions to make up for the losses. It remains to be seen how the pension funds will recover from the losses, but one thing is certain: the effects of the bank failures will be felt for years to come.