NY State Pension Fund Performing Poorly
The New York pension fund for state and local government workers has reported a slight investment return of less than 0.2 percent for its fiscal year that ended March 31. It has an estimated value of $178.1 billion.
Comptroller Thomas DiNapoli, the fund's sole trustee, says the performance mirrors broader market results in a volatile year. Its domestic stocks lost 0.5 percent, while non-U.S. equities lost 8.5 percent. The fund's fixed-income returns were about 2 percent overall. It paid $10.9 billion in benefits during the year. The fund holds assets for more than a million government employees, retirees and beneficiaries.