State Retirement Fund Hits Record High
The New York State Common Retirement Fund has reached a milestone. New York State Comptroller Thomas DiNapoli announced Monday that the fund was valued at an estimated $160.4 billion, an all-time high.
It earned an estimated 10.38 percent rate of return on its investments for the fiscal year ending March 31, 2013. DiNapoli says the fund remains well-positioned for growth as the financial markets continue to gain strength.
Fiscal year 2014-2015 will be the final year that employer contribution rates will reflect the market loss of 2008-2009.
The New York State and Local Retirement System provides benefits to over one million state and local government employees, retirees and beneficiaries.