ALBANY, N.Y. – New York's pension fund for state and local government workers has reached a record high of $180.7 billion, with a 3.6 percent return on investment in the most recent quarter.
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Comptroller Thomas DiNapoli, the fund's trustee, says that includes "solid performance" in domestic and global stocks. They account for more than 55 percent of the portfolio.
Almost 27 percent is invested in cash, bonds and mortgages, almost 8 percent in private equity and 7 percent in real estate.
The Common Retirement Fund for some 644,000 government employees also paid benefits to about 422,000 retirees and beneficiaries in the quarter that ended June 30.
The average employer contribution rate is 20.1 percent of salary for most public workers and nearly 27.6 percent for police and firefighters, though reductions are expected shortly.