With Market Up, So Is State’s Pension Fund
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- July
- 31
With the financial markets on the rise, the value of the beleaguered state pension fund is also up—7.7 percent, in fact, for the first quarter of the fiscal year, Comptroller Thomas DiNapoli reported today.
The fund, which pays the pension benefits for state and local government employees, is up to $116.5 billion, up from $109.9 billion in DiNapoli’s year-end report in May. The first quarter of this year ended June 30.
“We’re seeing some encouraging signs in the public markets, but we’re not out of the woods yet,” DiNapoli said in a statement. “It is good to see positive growth in the Fund after an especially challenging year for all investors. We are cautiously optimistic that the markets will continue to strengthen in what appears to be an improving economy.”
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on Friday, July 31st, 2009 at 11:56 am by Joseph Spector.
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Jay Gallagher has covered Albany for Gannett News Service since 1984 and has been Albany Bureau chief since 1989. He`s a native of the Boston area and likes to point out that in this millennium, the score is Red Sox 1 championship, the Yankees 0. 
Cara Matthews has been a statehouse correspondent in the Albany Bureau since August 2005. Prior to that, she covered Putnam County government and politics at The Journal News for nearly five years. Before that, she worked at newspapers in Connecticut and covered the state Legislature for one of them. 
