The New York State Common Retirement Fund, in which many of the state's pensions are funded from is facing a stark reality. Already believed by some to be underfunded, the State Comptroller's office announced that the fund lost .52% in the most recent quarter.
The results were published on the Comptroller's website. The fund is partially invested in a series of stocks and other equities meant to raise more money than the rate of inflation and pay for hundreds of thousands of current and future pensions. The fund gained 3.6% in the last quarter but the overall long term expected return is 7.5%. It now has $178.3 billion dollars stashed away.
The results were published on the Comptroller's website. The fund is partially invested in a series of stocks and other equities meant to raise more money than the rate of inflation and pay for hundreds of thousands of current and future pensions. The fund gained 3.6% in the last quarter but the overall long term expected return is 7.5%. It now has $178.3 billion dollars stashed away.
0 comments:
Post a Comment