New York State Pension Fund Crosses $160 Billion

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New York State Pension Fund Crosses $160 Billion
Photo by stevepb (Pixabay)

The New York state pension fund’s total value has reached $160.4 billion after posting a gain of 10.4 percent in FY2013, State Comptroller Thomas DiNapoli said. The pension fund lost over 33 percent of its assets during the 2008 financial crisis. The New York State Common Retirement Fund pays benefits to over 413,000 retirees and their beneficiaries.

New York State Pension Fund Crosses $160 Billion

Its gain in the year ending March 31 was similar to returns posted by the S&P 500 index in the same period. The retirement fund was valued at $154.5 billion in 2007, before it lost over $44 billion during the 2008 re