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State pension fund loses money

Jul 06, 2023 12:54 pm

Nick Reisman reports in New York State of Politics that investors in New York's pension fund lost money over the last fiscal year, with state Comptroller Tom DiNapoli's office reporting July 6 a -4.14 percent rate of return. DiNapoli said, “Recent months have been trying for investors, but thanks to the state pension fund’s diverse investments, members, retirees and beneficiaries can rest assured their pensions are secure.... There is no doubt that challenges lie ahead, with concerns over a recession and potential interest rate increases, but the state pension fund is well positioned to weather these storms.” The pension fund is currently valued at $248.5 billion. Read more about this story in New York State of Politics.

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