With Market Up, So Is State’s Pension Fund
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- July
- 31
With the financial markets on the rise, the value of the beleaguered state pension fund is also up—7.7 percent, in fact, for the first quarter of the fiscal year, Comptroller Thomas DiNapoli reported today.
The fund, which pays the pension benefits for state and local government employees, is up to $116.5 billion, up from $109.9 billion in DiNapoli’s year-end report in May. The first quarter of this year ended June 30.
“We’re seeing some encouraging signs in the public markets, but we’re not out of the woods yet,” DiNapoli said in a statement. “It is good to see positive growth in the Fund after an especially challenging year for all investors. We are cautiously optimistic that the markets will continue to strengthen in what appears to be an improving economy.”
This entry was posted
on Friday, July 31st, 2009 at 12:56 pm by Joseph Spector.
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