This Week
  • Arts and cultural groups are using a range of strategies to draw younger people.

  • ConServe does collection work for government, education and business.

  • Prominent cancer surgeon to lead URMC's department of surgery.

  • Donald Mead draws on his experience in leading furniture maker Gunlocke Co.

  • Anne Gabel, 27, owns MJ Gabel Diamond and Jewelry Buyers.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

State pension fund hits record high

Rochester Business Journal
May 13, 2013

The state pension fund was valued at a record high of $160.4 billion for the 2013 fiscal year, the Office of the State Comptroller reported Monday.

The portfolio in the New York State Common Retirement Fund produced an estimated rate of return of 10.4 percent for the year ending March 31, officials said.

Domestic equities, which comprise 36 percent of fund investments, returned 14.5 percent, officials said. The global equities asset class, 2.9 percent of the portfolio, returned 13.9 percent. Private equity, at 8.6 percent, returned 11.8 percent.

Fixed income, the fund’s second-largest asset class at 28.2 percent, returned 4.9 percent. Non-U.S. equities, at 14.1 percent, returned 9.5 percent.

The Common Retirement Fund is the third-largest public pension fund in the country. It funds the New York State and Local Retirement System, which provides benefits to more than 1 million state and local government employees, retirees and beneficiaries in New York.

The fund “is well-positioned for growth as the financial markets continue to gain strength,” Comptroller Thomas DiNapoli said in a statement. “Fiscal year 2014-15 will be the final year that employer contribution rates will reflect the market loss of 2008-09.”

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google