QUESTION
How are this year's pension investment returns performing?
4:23:05
·
51 sec
The fiscal year 23 ended with pension investment returns up 8%, surpassing the 7% goal set by the state.
- Fiscal year 23 concluded with an 8% increase, exceeding the state's target of 7%.
- The previous fiscal year saw a downturn in investment returns.
- Currently, the fiscal year-to-date returns stand at about 4.75%.
- New York City Comptroller Brad Lander expresses optimism for the last months of the fiscal year and commits to regular updates.
Justin L. Brannan
4:23:05
And how are this year's pension investments returns looking so far?
Brad Lander
4:23:10
So we had a very good fiscal year last year.
4:23:13
So 2 years ago when the stock market had its big bump in fiscal year 'twenty two, obviously that was a great year then fiscal year 'twenty Fiscal year 21 was the great year.
4:23:24
Fiscal year 22, things were down.
4:23:27
Last year fiscal year 23, we ended June 30th up 8%.
4:23:32
Which is better than our state directed 7% to 7% hurdle rate that we aim for every year.
4:23:42
So at this point from fiscal year to date, it's about 4.75% up.
4:23:48
Obviously, we're hoping for a very strong last few months the year, and we'll report regularly to the council and the public.