ALBANY, N.Y. (AP) — The New York pension fund for state and local government employees has grown to an estimated $150.3 billion with a nearly 6 percent return on investment this fiscal year, despite losses in international stocks, state Comptroller Thomas DiNapoli said Wednesday.

The fund, which had an audited value of $147.2 billion a year earlier, supported about 402,000 retirees and beneficiaries and has about 656,000 current members.

"The good news is in this very volatile market, this very volatile investment climate, that we now have three years of positive rates of return," said DiNapoli, the fund's sole trustee. In light of the volatility, especially overseas, he will look for more alternative and fixed-income investment opportunities, he said.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.