New York State Teachers' Retirement System, Albany, posted a 23.2% investment return for the fiscal year ended June 30, the largest annual rate of return in 25 years, according to information recently posted on the system's website.
Net assets climbed to $89.9 billion as of June 30, a gain of 17.1% from a year earlier, according to the website.
The system “has achieved returns well above the 8.0% assumed rate of return in four of the past six years,” according to the website. “The system's 25-year annualized rate of return stood at 9.0% — or 100 basis points above the actuarially assumed rate.”
Spokesman John Cardillo could not be reached for comment by press time.