QUICK LINKS:

NY pension fund estimate reaches $176 billion

Created: 05/12/2014 3:35 AM WHEC.com
By: Associated Press

New York's comptroller is expected to announce Monday that the pension fund for state and local government workers has reached a record high of $176.2 billion after paying benefits.
 
Comptroller Thomas DiNapoli is sole trustee of the Common Retirement Fund showing a 13 percent return on investment in the fiscal year that ended March 31.
 
Almost 38 percent of its holdings are in domestic stocks.
 
The fund for some 650,000 government employees pays benefits to about 400,000 retirees and beneficiaries.
 
The average employer contribution rate is almost 21 percent of salary for most public workers and nearly 29 percent for police and firefighters.





News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.