New York City Pensions Return 12.95 Percent in Fiscal 2017: Preliminary Report
New York City’s public pension system returned 12.95 percent on its investments in fiscal 2017, according to preliminary results from City Comptroller Scott Stringer on Wednesday, after two years of far more dismal results.
Those returns, well above the funds’ target return rate of 7.0 percent, should provide some relief for the underfunded retirement system.
The results also mirror the investment performance of the nation’s two largest public pension plans, both in California.
Stringer cautioned that the results had not yet been certified and represented only one year of a longer-term approach.
Full Content: New York Times
Remember to subscribe to our free weekly newsletter for more news or subscribe to our service to get unlimited access.
