State Pension Fund Earns

11.5% in Investment Returns

State Comptroller DiNapoli this week announced the New York State Common Retirement Fund had a strong return last year and earned 11.5%, and closed the year with an estimated $267.7 billion value.

“Strong performances across asset classes helped drive the State pension fund’s investment returns higher over the past year, with many companies reporting better than expected earnings and consumer spending remaining strong,” Comptroller DiNapoli said. “While inflation persists and global tensions pose risks to investors, the Fund, thanks to its prudent management and long-term approach, is well positioned to weather any storms and continue to provide retirement security to the public employees it serves.”

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State Comptroller DiNapoli

Celebrates Caribbean Heritage Month

June is Caribbean Heritage month, a time dedicated to honoring the rich and diverse contributions of Caribbean Americans.

In celebration, State Comptroller DiNapoli honored acclaimed singer/songwriter Renee Neufville, owners of Carifesta restaurant Jasmine Mohamed-Rodrigues and Ryan Rodrigues, President, Local 420 and DC 37 Caribbean Heritage Committee Co-chair Carmen Charles, and Assemblymember Kimberly Jean-Pierre.

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North Shore Leads Staten Island's Growth

The North Shore, for many the gateway to Staten Island, has led the borough in population growth since 2010, according to a report released by State Comptroller DiNapoli. The North Shore is located just north of the Staten Island Expressway and serves as an important freight and commuting hub. The area accounts for more than one third of the Staten Island population and its residents tend to be younger and more racially diverse than in other parts of the borough.

“The North Shore is a key part of the growth story in Staten Island. It has contributed to the increase in average household income and a decline in poverty,” said DiNapoli. “The success of the area’s waterfront revitalization remains critical for future growth in the borough by creating jobs and new housing. But like many parts of New York City, the North Shore faces challenges with systemic disparities that must be addressed to ensure that all residents benefit from these efforts."

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ALSO IN THE NEWS THIS WEEK

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• New York State pension fund reports investment gain for 2023-24, the second highest in 10 years
  
  
• Do the feds owe the state Department of Labor $44 million?
  
  
• Comptroller: N.Y. COVID-19 report included false claims

As we mourn the passing of baseball legend  Willie Mays, we celebrate his grandniece, LaKeshia Motley, who is a valued member of the OSC team. LaKeshia Motley, of OSC Executive Communications  and Correspondence, proudly displays the NY Daily  News’s tribute to her late great uncle.