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NY pension fund reports 4.6% return for quarter

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ALBANY, N.Y. (AP) — The pension fund for New York state and local government workers has grown to $160.4 billion after its most recent quarter.

The Common Retirement Fund is reporting a 4.61 percent return on investments for the period ending Sept. 30. It paid out $2.37 billion.

The fund pays benefits to more than 400,000 retirees and beneficiaries.

It has recouped losses from the 2008 recession, largely from rebounding stock prices.

State Comptroller Thomas DiNapoli says the strong quarterly returns benefited from international stocks.

The average employer contribution rate is almost 21 percent of salary for most public workers and nearly 29 percent for police and firefighters.

The fund includes almost 650,000 employees, most working.

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