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New York pension fund reaches record high

Posted May 12th, 2014 @ 11:43am by 810 & 103.1 WGY

New York State's pension fund is at a record high. 

That's word from New York State Comptroller Tom DiNapoli who says the third largest public pension fund in the country grew in value to a historic high of more than $176 billion, up about $16 billion from last year. 

He credits the 13 percent return on investment in the fiscal year that ended March 31st, to strong domestic and private equity markets and real estate returns. 

DiNapoli is the sole trustee of the fund that holds assets in trust for more than one-million employees and retirees from state and local governments and some public authorities. 

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