Pension funds enjoy bull ride
Fueled by a white-hot stock market, many of the nation’s public pension funds have reported impressive performance figures for the recent fiscal year ended June 30. Last week, the North Carolina Retirement System announced a 12-month total return of 15.88 percent, and Connecticut’s two largest pension funds, Teachers’ Retirement Fund and State Employees’ Retirement Fund, posted net investment returns of 15.67 percent and 15.62 percent, respectively.
It’s been one of the strongest years for pension funds in recent times, notes Scott Stringer, comptroller of New York City. The New York City Retirement Systems logged a 17.4 percent return.
“Any year in which the pension funds achieve double the assumed rate of return is a good one in my book,” Stringer states.
Pension funds will typically use an actuarial