Connecticut's two largest pension funds — the Teachers' Retirement Fund and the State Employees' Retirement Fund — generated investment returns, net of expenses, for the 2013 calendar year of 14.2% and 14.1%, respectively, Treasurer Denise Nappier announced Jan. 30.
In doing so, they essentially matched their benchmarks and far exceeded their actuarial investment assumptions of 8.5% and 8%, according to Nappier.
"The investment results affirm our ongoing investment strategy to position the pension fund portfolios for long term growth and financial strength," Nappier said in a statement.
Their performances helped propel the overall value of the Connecticut Retirement Plans and Trust Funds, which include six pension plans and nine trust funds, to its highest market value ever posted, she said.
Moody's Investors Service rates Connecticut's general obligation bonds Aa3, while Standard & Poor's, Fitch Ratings and Kroll Bond Rating Agency all assign AA ratings.
