New York State government’s main pension fund grew by 10.4% in fiscal year 2013.
At the end of the fiscal year on March 31, the New York State Common Retirement Fund had $160.4 billion, a new record for the fund.
More than 3,000 employers contribute money to the fund for more than 1,000,000 employees, said Eric Sumberg, spokesman for New York State Comptroller Thomas DiNapoli. Employees include workers in state government, local governments, the Port Authority of New York and New Jersey, professionals in the Metropolitan Transit Authority and school districts, though the plan does not cover teachers.
Of the fund’s eight categories of investments, domestic equities did best, yielding 14.5%. These ended the year accounting for 36% of the fund’s total investment value, the largest slice.
Global equities had the second highest return at 13.9%, though they amounted to just 2.9% of the fund’s investment value.
Fixed income offered the lowest yield, 4.9%. These investments were the second largest component of the investments, 28.2%.
“Fiscal year 2014-15 will be the final year that employer contribution rates will reflect
the market loss of 2008-2009,” DiNapoli said.