Connecticut's pension funds, known collectively as the Connecticut Retirement Plans and Trust Funds, generated a preliminary investment return net of expenses of 11.5% for fiscal 2013, Treasurer Denise Nappier said.

The funds added $2.8 billion of market value to pension assets, with Nappier citing strong equity gains. With a projected $900 million in net benefit payments and fees over the year, the fund ended on June 30 at $25.9 billion, up from the $24 billion of a year earlier.

According to Nappier, the fund's performance surpassed the actuarial investment assumptions of 8% and 8.5%, but was also largely consistent with the returns of the fund's customized benchmarks.

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