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Common Retirement Fund Earns Strong Investment Returns

The New York State Common Retirement Fund (Fund) holds retirement investments in trust for more than 1 million New York State and Local Retirement System (NYSLRS) members. In the State fiscal year ending March 31, 2018, it generated strong investment returns of 11.35 percent. The Fund ended the year with an audited value of $207.4 billion.

New York State Common Retirement Fund Value

Strong Investment Returns

Independent studies regularly confirm the financial soundness of NYSLRS. Just this year, a study by the Pew Charitable Trusts ranked NYSLRS among the best-funded state retirement systems. In fact, a new State fiscal year 2018 report from our actuary ranks NYSLRS at 98 percent funded, which puts us well above the national average of 66 percent funded.

Comptroller Thomas P. DiNapoli, trustee of the Fund, credits the growth to a long term, diversified investment strategy and solid market growth through most of the fiscal year, despite a volatile fourth quarter

Investing for Retirement Security

The Fund is the country’s third-largest public pension fund. NYSLRS provides retirement security to more than 1 million active state and local government employees, retirees and their beneficiaries. During the fiscal year that ended March 31, 2018, NYSLRS paid out $11.45 billion in retirement and death benefits. More than $9.8 billion of that went to residents of New York State, which generated local spending and provided economic support to New York businesses and communities.

Investing Responsibly

While successfully providing financial security for New York’s government workers and retirees, Comptroller DiNapoli’s has also put investment dollars to work helping New York businesses grow and addressing the long-term threat of climate change.

The In-State Private Equity Program invests in New York-based business ventures, companies and other programs that spur economic growth and create and retain jobs. Recently, Comptroller DiNapoli raised the program’s total commitments to $1.6 billion. Since 2000, it has returned $863 million on $583 million invested in 139 transactions.

And recently, the Asset Owners Disclosure Project once again named the Fund as the number one U.S. pension fund — and the third globally — for its work to address climate risk. The Fund’s portfolio includes $7 billion dedicated to sustainable investments, including $4 billion in a low emissions index that shifts stock holdings away from the biggest carbon emitters.