ALBANY, N.Y. (AP) — The New York pension fund for state and local government workers has topped $160 billion after reporting a 10.4 percent return on investment for its last fiscal year, the state comptroller's office reported Monday.
The Common Retirement Fund's estimated value was $160.4 billion at the end of March, an all-time high for the fund that pays benefits to more than 413,000 retirees and beneficiaries, said Comptroller Thomas DiNapoli, its trustee. It has now restored all $44 billion lost during the recession starting in 2008 and added $6 billion more, largely from rebounding stock prices.
"It remains well-positioned for growth as the financial markets continue to gain strength," DiNapoli said. The 2014-2015 fiscal year starting next April will be the last with higher employer contributions required reflecting the recession losses, he said.
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