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tglass59

NYS Pension System

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DiNapoli: Pension Fund Remains Strong in Midst of Sluggish Economy

http://www.osc.state.ny.us/press/releases/nov11/112211a.htm

The New York State Common Retirement Fund (Fund) was valued at $133.8 billion after Fund investments posted an estimated negative 7.48 percent rate of return through September 30, 2011, the end of the Fund's second fiscal quarter, according to New York State Comptroller Thomas P. DiNapoli.

"Like almost all investors, the Fund has been affected by the sluggish economy and increased volatility in the markets," DiNapoli said. "The Fund remains one of the strongest in the U.S. and our diversified portfolio will keep it secure and poised for strong returns in the coming months."

The Fund has 36.1 percent of its assets invested in publicly traded domestic equities and 15.1 percent in international equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (28.6 percent), private equity (10.8 percent), real estate (6.5 percent), absolute return (2.5 percent) and opportunistic strategies (0.4 percent).

DiNapoli initiated quarterly performance reporting by the Fund as part of his on-going efforts to increase accountability and transparency. The Fund, which exists to provide benefits to more than one million retirees, beneficiaries and active employees, will close its current fiscal year on March 31, 2012.

Edited by jack10562
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very interesting comments, NOW STOP WANTING US TO PAY INTO OUR PENSION, BACK UP AND STAY THE HELL AWAY FROM OUR MONEY YOU WHITE COLLAR GREEDY THIEVES.

Edited by jack10562
grumpyff and JetPhoto like this

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Wow, where was this article? Buried in the back of the paper? Thanks for posting it.

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Wow, where was this article? Buried in the back of the paper? Thanks for posting it.

It was on www.nyspffa.org/

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very interesting comments, NOW STOP WANTING US TO PAY INTO OUR PENSION, BACK UP AND STAY THE HELL AWAY FROM OUR MONEY YOU WHITE COLLAR GREEDY THIEVES.

We pay in already and I believe your new tier will pay in. Absent a Constitutional Convention and change your terms are set.

Edited by jack10562

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Good Morning America

New York State Comptroller Thomas P. DiNapoli will appear on ABC’s Good Morning America on Monday, December 5th, between 8 AM and 9 AM.

tglass59 likes this

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We pay in already and I believe your new tier will pay in. Absent a Constitutional Convention and change your terms are set.

Good point.......... Tier V is in place, with tier 6 coming

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If you haven't already seen this, check out "This Public Pension System Works" on YouTube.

It's a quick 3 minute clip from the NYS Comptroller's office and it's very informative.

It exposes some realities and truths which are contradictory to the rag reporting you find on Snooze12 and in the Journal Snooze.

If you ever wonder why their reporting is so one sided and more often anti-labor, ironically, they are trying to secure their own contracts with cities and municipalities to be able to broadcast, operate and distribute their product.

Who do you think they negotiate with? That's right, the mayors and managers of such cities and municipalities. Why do you think we always here the city's/municipality's full side and you only hear mere seconds of labor's rebuttals?

Dishonest and corrupt "journalism" at its best.

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A recent posting in another thread decried the use of pension funds to support building of a replacement for the Tappan Zee Bridge. While the headline of an article in today's Journal News may trouble some people, a statement in the article should bring some relief to those active in this forum:

Cuomo pushes labor unions to invest pensions in roads

"Cuomo said he was not considering investments from the state's roughly $134 billion Common Retirement Fund, which provides pension benefits to about 1 million public-sector workers and retirees. The fund is controlled by state Comptroller Thomas DiNapoli."

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