Connecticut pension funds post 24% returns for fiscal year

Connecticut's two largest pension funds, the $21.9 billion Teachers' Retirement Fund and $16.2 billion State Employees' Retirement Fund, generated net returns of 24.28% and 24.36%, respectively, for the fiscal year ended June 30, according to documents from the state treasurer's website.

TRF underperformed its custom benchmark by 8 basis points, while SERF's return was in line with its benchmark.
TRF's three-, five- and 10-year net annualized returns as of June 30 were 10.24%, 10.4% and 8.03%, respectively, vs. custom benchmarks of 10.61%, 7.9% and 8.28% for the same periods.

SERF's three-, five- and 10-year returns were 10.28%, 10.47% and 8.08%, respectively, vs. custom benchmark returns of 10.6%, 10.54% and 8.29%.

The state's third largest pension plan, the $3.3 billion Connecticut Municipal Employees' Retirement Fund, returned a net 24.39% for the fiscal year, exceeding its benchmark by 3 basis points. Its three-, five- and 10-year net annualized returns as of June 30 were 10.47%, 10.1% and 7.7%, respectively, vs. 10.67%, 10.11% and 7.97% for its benchmark.

The three plans make up nearly all the assets in the $43 billion Connecticut Retirement Plans & Trust Funds, Hartford.