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May242012
N.Y. State Pension Fund Produces Solid Return
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(ALBANY, N.Y.) -- New York state's pension fund increased by 5.96 percent in the last fiscal year, which ended March 31. The fund is now estimated to be worth about $150 billion.
The value of the fund is at its highest level since 2009, when the economic downturn began. Thirty-eight percent of the fund is invested in American stocks, and it produced a return of 6.9 percent. Fixed income, which made up about 25 percent of the pension fund, had a nine-percent return.
Despite the encouraging numbers, the 5.96 percent return is lower than the projected return of 7.5 percent.
Copyright 2012 ABC News Radio
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