Connecticut's two largest pension funds, the Teachers' Retirement Fund and the State Employees' Retirement Fund, posted net returns of 15.67% and 15.62%, respectively, for the fiscal year ended June 30, said David Barrett, a spokesman for Treasurer Denise Nappier, the pension system's principal fiduciary.
Plan assets for the two funds, both based in Hartford, were about $16.2 billion and $10.5 billion, respectively, as of June 30. Combined investment gains for the two plans totaled $3.8 billion. After combined net withdrawals of $760.4 million, including benefit payments, fees and expenses, the two pension funds jointly had a total value of about $26.7 billion at June 30, up 13% from the previous fiscal year.
Meanwhile, the overall Connecticut Retirement Plans & Trust Funds, Hartford, added $4.15 billion of investment gains to pension assets in fiscal year 2014. After net withdrawals, the overall system ended the fiscal year with assets of $29.4 billion, up 13.5% from the previous year. The broader system is made up of 12 state pension and trust funds, including the teachers' and employees' funds.
The CRPTF's domestic and international developed equity portfolios returned 25.3% and 22.2%, respectively, while its high-yield bond portfolio returned 12.2% for the year. Additionally, real estate and private equity posted returns of 10.7% and 16.1%, respectively, for the fiscal year.