An outside review of New York's $150 billion pension fund for public workers shows it fixed ethical problems that led to a "pay-for-play" scandal.
The three-year review by Michigan-based Funston Advisory Services says the Common Retirement Fund's 2009 decision to ban paid placement agents used by other pension funds does not appear to have kept it from accessing qualified outside investment managers.
New York State Comptroller Tom DiNapoli says the state’s pension fund has “successfully weathered” another economic storm. He reports returns are the highest since global market meltdown of 2008. Capitol Correspondent Karen DeWitt reports…
Comptroller Tom DiNapoli says despite another volatile year in the markets, the pension fund for the hundreds of thousands of state worker retirees performed at a rate of 5.96%. The total fund is valued at $150.3 billion dollars, the highest since before the Great Recession.