The individual pension fund results are in sharp contrast to the returns for the fiscal year ended June 30, 2021 when all posted net results ranging from 24.8% to 28%.
Mr. Lander reported in a July 29 press release that the preliminary aggregate net return for the total pension system was -8.65% for the just-completed fiscal year.
For the fiscal year ended June 30, 2021, the aggregate net return was 25.8% and aggregate assets were $266.1 billion.
Although the comptroller's bureau of asset management handles investment for the pension funds, each has an independent board leading to different investment strategies and asset allocations.
For the just-completed fiscal year:
- The $47 billion New York City Police Pension Fund had the best return of -7.17% vs. 26.4% for the previous fiscal year.
- The $17.5 billion New York City Fire Pension Fund returned -7.64% compared to a return of 24.9% in the fiscal year prior.
- The $76.6 billion New York City Employees' Retirement System returned -8.39% vs. 26.6% for the previous fiscal year.
- The $7.9 billion New York City Board of Education Retirement System Qualified Pension Plan returned -9.01% compared to 28% for the fiscal year ended June 30, 2021.
- The $90.5 billion Teachers Retirement System of the City of New York Qualified Pension Plan returned -9.77% compared to 24.8% the previous fiscal year.