New York State Teachers' Retirement System, Albany, returned a net 3.5% on its investments for the fiscal year ended June 30, according to an annual report posted recently on the system's website.
The 3.5% return was down from the net 7.1% in the previous fiscal year and was the lowest since the system's 2.3% net return in fiscal year 2016.
The system's assumed annualized rate of return is 7.1%.
The pension system's assets as of June 30 totaled $120.48 billion, down slightly from the $122.48 billion for the fiscal year ended June 30, 2019.
"Despite continued economic uncertainty, NYSTRS remains exceptionally well-funded," David P. Keefe, president of the system's board of trustees, said in a message accompanying the annual report. "As of our last actuarial valuation, NYSTRS was 101.2% funded based on a market value of assets and 99.6% funded based on an actuarial value of assets."
The annualized net return was 6.5% for three years and 6.8% for five years, both as of June 30. Also as of that date, the annualized net return was 9.6% for 10 years and 8.6% for 30 years, according to the annual report.
