Slide in state retirement fund slows
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- January
- 29
The state Common Retirement Fund, which lost about $30 billion between April and October, saw its losses slow dramatically over the last couple of months of the year, shrinking by about $2.3 billion, a spokesman for Comptroller Thomas DiNapoli said today.
The fund at the end of the year stood at $121.7 billion, down from about $124 billion in October and $154 billion last March 31.
The fund pays pension benefits for retired state and local-government employees outside New York City. A slide in investment income means higher costs for taxpayers, although their contributions are locked in through 2011.
This entry was posted
on Thursday, January 29th, 2009 at 10:10 am by Jay Gallagher.
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