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Pension Funds

Connecticut’s 2 largest pension funds return more than 16%

Connecticut's two largest pension funds, the $13 billion State Employees' Retirement Fund and $18.7 billion Teachers' Retirement Fund, Hartford, generated net returns of 16.51% and 16.33%, respectively, for the year ended Dec. 31, said an announcement from the state treasurer's office.

The funds outperformed their respective custom benchmarks by 74 and 63 basis points, respectively.

SERF's three- and five-year annualized returns as of Dec. 31 were 8.27% and 8.75%, respectively, vs. its custom benchmark of 7.73% and 8.57% for the same periods, according to documents from the treasurer's website.

Meanwhile, TRF's three- and five-year returns were 8.26% and 8.74%, respectively, vs. custom benchmark returns of 7.72% and 8.57%.

The state's third largest pension plan, the $2.7 billion Connecticut Municipal Employees' Retirement Fund, returned a net 14.53% for the year, exceeding its benchmark by 50 basis points. Its three- and five-year annualized returns as of Dec. 31 were 7.83% and 7.77%, respectively, vs. 7.22% and 7.66% for its benchmark.

The three plans make up nearly all the assets in the $34.4 billion Connecticut Retirement Plans & Trust Funds, Hartford.