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February 18, 2010

DiNapoli Statement on Pew Pension Fund Report

Report Indicates New York State Common Retirement Fund Strongest in U.S.

“It’s my top priority to protect New York’s taxpayers and the members of pension fund. The Pew Report confirms we’re doing just that. The report finds that New York has the strongest pension fund in the nation. The Fund’s historic strength and diversified portfolio has helped it weather the difficult markets over the past few years. The Pew report only covers up to a portion of 2008, but even in the face of the recession, our Fund is still one of the best funded in the nation. By continuing to manage the fund for the long term and making tough choices, we will keep New York at the head of its class.

“I’ve been concerned about the growing OPEB liabilities in New York. In 2008, I proposed legislation to allow the state and local governments to begin saving to cover those liabilities and I’m continuing to push for OPEB legislation.”


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