posted on November 19, 2012 14:41
New York State's common retirement fund posted positive gains in the second quarter amid a slow recovery. That's the word from Comptroller Tom DiNapoli, who says the fund's estimated rate of return for the second quarter that ended Sept. 30 was just over four-percent.
He says the rate increases the fund's value to more than $150 billion. DiNapoli notes the fund has 37 percent of its assets invested in publicly traded domestic equities and another 13 percent in international public equities.
He's urging the President and Congress to resolve the massive economic decisions they face and avoid a standoff on the fiscal cliff issue that could damage the economy. He says figures show the fund is the third-largest public pension fund in the nation and remains among the best funded plans in the country.