NY pension funds grow to $326.3B

The assets of the five pension funds in New York increased to $326.3 billion, achieving an investment return of 13% for the fiscal year ending in June. This outperformed the target of 7% and kept pace with the surge in U.S. stock markets. These results contributed to an improved performance of the funds, which is expected to reduce the city's contributions to pension system funding by approximately $6.3 billion over the next five years, with an investment allocation of 43% in stocks and 31% in fixed income and bonds.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article