The New York State Common Retirement Fund's estimated rate of return for the second quarter ending Sept. 30 was 4.07%, increasing the fund's value to $150.1 billion, according to New York State Comptroller Thomas DiNapoli.
The retirement fund, the third-largest public pension fund in the nation, provides benefits to more than one million retirees, beneficiaries and active employees.
"The New York State Common Retirement Fund produced reasonable gains this quarter amid a slow economy and uncertainty in the market about elections," DiNapoli said.
The fund has 37.1% of its assets invested in publicly traded domestic equities and 13.7% in international public equities. The remaining fund assets by allocation are invested in cash, bonds and mortgages, private equity, real estate, absolute return strategy, and opportunistic strategy alternatives.
In a statement, DiNapoli urged President Barack Obama and Congress to avoid a standoff on the fiscal cliff issue and resolve the economic issues the country faces.
"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," DiNapoli said.
New York's retirement fund remains among the best funded plans in the country, according to the Pew Center on the States.
