NY pension fund gains less than 1 percent in latest quarter, stands at $182.5 billion

The New York pension fund for state and local government workers shows an investment return of less than 1 percent for the last quarter with an estimated value of $182.5 billion.

State Comptroller Thomas DiNapoli, the fund trustee, says the quarter that ended June 30 had a challenging investment climate.

He says the fund remains strong.

Its estimated value, down about $2 billion from its audited value three months earlier, reflects benefit payments made to retirees and beneficiaries.

The contribution rates paid by state and local governments toward employees' pensions are 18.2 percent of salary for most public workers and 24.7 percent for police and firefighters.