New York State Common Retirement Fund lowers assumed rate of return to 5,9 percent


The Comptroller of the New York State, Thomas DiNapoli, lowered the assumed rate of return of the New York State Common Retirement Fund to 5,9% from 6,8%.

In previous years the fund’s long-term assumed rate of return was reduced to 7,5% (from 8%) in 2010 and continued to reduce it further. The median assumed rate of return of U.S. public pension funds is 7% (Source: NASRA – National Association of State Retirement Administrators).

Michael R. Dutcher Retirement Systems Actuary: “I recommend that we take advantage of the stellar FY 2021 CRF performance and implement a market restart while reducing the assumed return from 6.8% to 5.9%.” ANNUAL REPORT TO THE COMPTROLLER ON ACTUARIAL ASSUMPTIONS.

The FY 2021 investment rate of return, as reported by the PICM is 33.55%. The 3, 5, 10, and 20-year returns are 11.00%, 11.17%, 9.19%, and 7.65% respectively.


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