Aug 9, 2017 The NYS Pension fund is at an all-time high fund balance of $197.1 Billion. The New York State Common Retirement Fund’s (Fund) overall return in the first quarter of the state fiscal year 2017-2018 was 2.9 percent for the period ending June 30, 2017, with an estimated value of $197.1 billion, according to New York State Comptroller Thomas P. DiNapoli.
“Strong domestic stock market returns continued to buoy our investments through the opening months of the state fiscal year,” DiNapoli said. “As a long term investor, the fund’s performance is best measured by its success over a period of years if not decades, but we always welcome a strong quarter.”
Returns in recent years have resulted in reductions in employer contributions in fiscal years 2013-2014, 2014-2015 and 2015-2016, allowed them to remain stable in 2017-2018. The contribution will drop further for 2018-2019. This means Westchester County & other cities and towns do NOT face increased payments for pension costs. When contribution rates rose in the midst of the 2008 Wall St Recession, hostility towards public employee pensions rose along with them. Thanks to years of strong management from Comptroller DiNapoli, contribution rates have stabilized and New York has one of the strongest pension plans in the country. Employer Pension Contribution history
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Good news for future CSEA retirees: The Pension fund is at record fund balance levels!
Comptroller Tom DiNapoli’s announcement from Feb 2017.