Returned 10.38 percent on investments in FY 2013
New York State Comptroller Thomas P. DiNapoli announced today that the New York State Common Retirement Fund was valued at an estimated $160.4 billion and earned an estimated 10.38 percent rate of return on its investments for the fiscal year ending March 31.
"The New York State Common Retirement Fund has reached a milestone," DiNapoli said. "The fund ended the fiscal year at an estimated $160.4 billion, an all-time high, and it remains well-positioned for growth as the financial markets continue to gain strength. Fiscal year 2014-15 will be the final year that employer contribution rates will reflect the market loss of 2008-09."
Returns for the fund's asset classes were:
The fund is the third-largest public pension fund in the country and remains one of the nation's best-managed and best-funded pension plans. In February, Funston Advisory Services completed an independent review of the fund that found it is well-run, operates with an industry-leading level of transparency and invests effectively on behalf of its members.
The New York State and Local Retirement System provides benefits to more than 1 million state and local government employees, retirees and beneficiaries. Over the past 20 years, 82 percent of the cost of benefits have been funded from investment returns.