State Pension Fund Up 4% For Quarter

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The state’s pension fund grew 4 percent in the second quarter of the fiscal year to a total of $150.1 billion, Comptroller Thomas DiNapoli said.

DiNapoli’s office estimates a yearly return of 7.5 percent on the fund, which has about 1 million retirees and workers. The fund is one of the largest public pension funds in the country; DiNapoli is the sole trustee.

“The New York State Common Retirement Fund produced reasonable gains this quarter amid a slow economy and uncertainty in the market about the elections,” DiNapoli said in a statement.

“As one of the largest institutional investors in the world, we urge the President and Congress to resolve the massive economic decisions they face and avoid a standoff on the fiscal cliff issue that could damage our economy. While the diversification of our assets will help the Fund weather economic storms, a swift compromise in Washington could help 2013 be a more prosperous year for investors like us.”

The fund has 37.1 percent of its assets in publicly traded domestic equities and 13.7 percent in international public equities.

The remaining fund assets are: cash, bonds and mortgages (31.1 percent), private equity (9.4 percent), real estate (6.4 percent), absolute return strategy (2.00 percent) and opportunistic strategy alternatives (0.3 percent).

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  1. The NYS Pension fund pays an average pension of about $19,000. Fact

    Most retirees getting a NYS Pension from the fund STAY in New York state and dont move away. Fact

    Most retirees who get a NYS Pension Fund pensions are NOT the ones who piled on tons of last year overtime to milk the system; those people are the EXCEPTION but they are the only ones who make the screaming headlines from newspapers and right wing stingy groups such as the Empire Center who love millionaires and billionaires

  2. Stop with the shameless spin. No one’s complaining about 19 grand or reasonable pensions and you well know it.