NYS Office of the Comptroller DiNapoli: State Pension Fund Valued at $309.7 Billion at End of First Quarter

 

The estimated value of the New York State Common Retirement Fund (Fund) was $309.7 billion at the end of the first quarter of State Fiscal Year 2026-27, New York State Comptroller Thomas P. DiNapoli announced today. Fund investments returned an estimated 6.12% for the quarter.

"The New York State Common Retirement Fund returned another strong quarter despite a host of factors including persistent inflation, higher energy prices, and ongoing geopolitical conflicts,” DiNapoli said. “Our disciplined investment strategy is focused on diversification, responsible risk management, and long-term stability so that we achieve the Fund’s purpose of protecting the retirement security of our public workers, retirees, and their families.”

The Fund's estimated value was $295.4 billion as of March 31, 2026, the end of the state’s fiscal year. As of March 31, 2026, the Fund had 39.4% of its assets invested in publicly traded equities. The remaining Fund assets by allocation are invested in cash, bonds, and mortgages (22.9%), private equity (14.3%), real estate and real assets (14.3%), and credit, absolute return strategies, and opportunistic alternatives (9.1%).

The Fund’s long-term expected rate of return is 5.9%.

DiNapoli’s management of the Fund has received praise from two independent reviews released in 2026. First, a statutorily required fiduciary and conflict of interest review of the Fund released in January recognized the Fund for its exemplary investment oversight, risk management, and ethical governance. This review, conducted by Weaver and Tidwell LLP and required by state regulations, is part of the reforms that DiNapoli fought for when he became State Comptroller to provide the public with a clear, independent assessment of how the Fund is being managed and where improvements could be made.

Weaver’s review found:

• The Fund operates under a strong governance framework with a rigorous system of internal controls and maintains a high level of operational transparency.
• DiNapoli manages the Fund with the highest ethical, professional, and conflict of interest standards, and acts for the sole benefit of the retirement system’s members and beneficiaries.
• The Fund has a great deal of focus on the fees applied to each individual deal and whether the proposed fees fall within prevailing market norms.
• The Fund demonstrates a strategic asset allocation between public and private markets that closely aligns with its peer group.
• Fund staff are knowledgeable and dedicated and manage the Fund in the most efficient and effective manner possible.

The fiduciary review highlights that the Fund’s high-funded status and conservative assumed rate of return put it in a stronger financial position to meet long-term obligations than its peers and is able to weather market volatility. The funded status was 96.8% as of March 31, 2026.

The second review was conducted separately by the New York State Department of Financial Services (DFS), the regulator of the Fund and the New York State and Local Retirement System. This review found the investment and risk teams are performing their duties professionally and competently while safeguarding the retirement security of the state pension fund’s members.

DFS’ review found:

• Total fund performance versus benchmarks over 3-, 5-, and 10-year periods “has been very good,” and it highlights the pension fund’s consistently healthy funded ratio as evidence of a well-managed portfolio and low risk to pensioners.
• No concerns “that the level of investment fees and expenses is excessive or about the diligence conducted in monitoring them and assuring accuracy."

After conducting numerous interviews and comprehensively examining risk reports, guidelines, asset allocation, asset-liabilities studies, liquidity management, investment due diligence and various other areas, DFS concluded “the NYSCRF investment and risk teams are professional and competent, and they take their fiduciary responsibilities of loyalty, care, and prudence seriously.” DFS determined the consistency of a very healthy funded ratio over a 10-year period is indicative of a well-managed investment portfolio.

DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his ongoing efforts to increase accountability and transparency.

VCJC Call for volunteers

 

Can you help?

Do you have expertise?

Are you willing to volunteer?

We are particularly in need of people with some expertise or knowledge about pricing items for the garage sale.  

Here's an overview of some of the categories of items we need help with:

• Sporting Goods

• Baseball

• Boxing

• Bicycles - and additional parts - gears, etc.

• Exercise equipment

• Tennis rackets

• Baseball gloves

• Kitchen - Chairs, microwave, blender, utility stand w/drawer, beautiful possibly mahogany table with 6 chairs

• Folding chairs, coffee urns

• Luggage

• DVDs, Headphones

• Books of all sorts, a lot of them Jewish-themed

• Judaica

• Arts and Crafts - needlepoint, art supplies

• Educational tools, books, classroom supplies, etc., a lot of teaching supplies

• Games for children and adults, models, toys

• Furniture: chest of Drawers and Bureau - wood

• Art work

• Construction equipment of various kinds.

If you can help us set pricing for any of these items, your assistance would be deeply appreciated!  Contact the office in person or at 718-884-6105, or email us.

If you are willing to volunteer during the event or during setup of the event, even without expertise, please contact us as well in person or at 718-884-6105 or email us!

THANKS!

Mayor Mamdani Invests More Than $8.4 Million in Grants to Support Small Businesses and Commercial Corridors Citywide

 

Nearly 90 grants will fund public art, street cleaning, wayfinding, neighborhood improvements and lighting, while expanding Business Improvement Districts (BIDs) and deepening relationships between small businesses

 

Investment builds on Mamdani administration’s “OPEN for Small Business” initiative to slash red tape, reduce paperwork and cut fines for small businesses  

Mayor Zohran Kwame Mamdani and New York City Department of Small Business Services (SBS) Commissioner Kenny Minaya today announced more than $8.4 million in grants to community-based organizations across all five boroughs. The grants will bolster efforts to uplift small businesses, increase foot traffic and create cleaner, more vibrant neighborhoods.

The investments — one of the single largest releases of small business grants in SBS history — will support public art, street cleaning, lighting and wayfinding infrastructure, commercial district marketing campaigns, relationship-building among small businesses, and other neighborhood improvements. Altogether, the grants will support community-based organizations serving more than 20,000 small businesses.

“From colorful murals in Port Richmond to brighter street lamps in Harlem, these investments will bring new energy to neighborhoods across our city and new customers to the tens of thousands of small businesses that call them home. This $8.4 million investment will keep our sidewalks clean, our public spaces bright, and give more small business owners the resources they need to grow,” said Mayor Mamdani. “Our administration knows it’s not enough to make it easier to open a small business, you have to make it easier to visit one too. That’s why our commitment to small businesses means not only cutting red tape and reducing fines, but investing in the neighborhoods surrounding bodegas, bookshops and restaurants so that New York City is lined with ‘OPEN’ signs year-round.”

“Small businesses are the heartbeat of New York City’s economy, forming the foundation of lively and beautiful communities across all five boroughs,” said Deputy Mayor for Economic Justice Julie Su. “That’s why this administration is investing not only in the businesses themselves, but in the commercial corridors and neighborhoods where they live. These grants will make our communities more welcoming, strengthen local economies and help small businesses create good-paying jobs.”

“New York City’s neighborhoods are more than the places in which we live and work. They represent the diverse people, culture, and dynamism that make ours the greatest city in the world,” said SBS Commissioner Kenny Minaya. “These grants go beyond dollars and cents – they are direct investments in the people and organizations that know our main streets better than everyone else. These grants will fund additional sanitation services, public art, wayfinding, and more; and will make New York City into an even more prosperous and joyous place for everyone.”

“Mom-and-pop and small businesses give every block, every neighborhood, every borough its unique identity. Joining Commissioner Minaya on his 5-borough BID convening tour, I saw firsthand the important work our BIDs and community orgs are doing to support these businesses through a number of challenges,” said Mom-and-Pop Czar Delia Awusi. “This $8.4 million investment puts more resources behind the organizations that know their communities and small businesses best.”

Shortly after taking office, Mayor Mamdani signed Executive Order 11, directing seven City agencies to catalogue their penalties and fees and identify ways to reduce them. Building on those efforts, Mayor Mamdani last month announced “OPEN for Small Business,” a package of more than 50 reforms that touch nearly every type of small business in New York City and makes it easier and cheaper to own and operate a small businesses across the five boroughs.

The $8.4 million in grants announced today build on those efforts by enlivening neighborhoods and directing additional foot traffic to commercial corridors. To celebrate the grants, Commissioner Minaya hosted a monthlong, five-borough tour with stops in Harlem, Manhattan; Port Richmond, Staten Island; Downtown Jamaica, Queens; Lou Gehrig Plaza in The Bronx; and Bay Ridge, Brooklyn.

In addition to seven citywide disbursements totaling $500,000, each borough of New York City will receive the following:

• 17 Grants to organizations in The Bronx, totaling $1,550,000
• 32 Grants to organizations in Brooklyn, totaling $2,774,135
• 14 grants to organizations in Manhattan, totaling $1,525,299
• 19 grants to organizations in Queens, totaling $1,514,800
• 7 grants to organizations in Staten Island, totaling $550,000

Renderings Revealed for The Magnolia at 146 Westchester Avenue in Port Chester, Westchester County

New renderings have been revealed for The Magnolia, a 12-story residential building under construction at 146 Westchester Avenue in Port Chester, Westchester County. Designed by Sarrazin Architecture PLLC and developed in a joint venture between Saxum Real Estate and St. Katherine Group, the 334,000-square-foot structure will yield 223 units in studio- to two-bedroom layouts. The project will also include 4,763 square feet of ground-floor retail, a parking garage, and a collection of residential amenities. The property is bounded by Westchester Avenue, Pearl and New Broad Streets.

The renderings preview a rectangular massing enclosed in a varied fenestration composed of red and gray brick and light- and dark-gray metal paneling. Floor-to-ceiling glass will line the ground floor for the lobby and retail frontage.

The property was formerly occupied by a surface-level parking lot and two low-rise structures, as seen in the below Google Street View image from before their demolition.

Amenities will include a rooftop deck, a fitness center, a yoga room, a top-floor clubhouse, a dog washing station, and automated parking stackers.

The ground-up development is located one block away from the Port Chester Metro-North station, providing convenient access to Grand Central Terminal. Also nearby is the Capitol Theatre in downtown Port Chester, as well as a wide range of food, entertainment, and recreation options.

Construction of The Magnolia is being supported by the Village of Port Chester Industrial Development Agency with a 20-year tax abatement.

The project is expected to wrap up sometime later this year or in early 2027.

This week on Talking Politics

 

This week, City public school test scores down, Bronx Democratic Party did not file required disclosure forms for years is Treasurer Michael Benedetto incompetent, new governor poll as Blakeman narrows the gap, Anthony's Political Money segment, and lots more anytime on YouTube at the link below.  

https://www.youtube.com/watch?v=3tD4JGwVjTY

Fort Walton Beach Felon Indicted for Federal Drug & Gun Offenses

 

Anthony Bernard Allen, 54, of Fort Walton Beach, Fla., has been indicted in federal court on one count of possession with intent to distribute a controlled substance involving more than 500 grams of cocaine and more than 28 grams of cocaine base; one count of possession of a firearm by a convicted felon; and one count of possession with intent to distribute a controlled substance involving less than 500 grams of cocaine. John P. Heekin, United States Attorney for the Northern District of Florida, announced the charges.

Allen appeared before Chief United States Magistrate Judge Michael J. Frank for his initial appearance at the United States Courthouse in Pensacola, Florida. Trial is scheduled for September 21, 2026, in Pensacola before District Court Judge T. Kent Wetherell, II.

If convicted, Allen faces a minimum mandatory sentence of 5 years’ imprisonment and up to life imprisonment on the possession with intent to distribute count; and up to 15 years’ imprisonment on the possession of a firearm by a convicted felon count.            

This case was investigated by the Drug Enforcement Administration, the Okaloosa County Sherriff’s Office, and the Bureau of Alcohol, Tobacco, Firearms and Explosives with assistance from the Gulf Coast High Intensity Drug Trafficking Areas (HIDTA) Task Force. The case is being prosecuted by Assistant United States Attorney Brooke D. Lindsay.

An indictment is merely an allegation by a grand jury that a defendant has committed a violation of federal criminal law and is not evidence of guilt. All defendants are presumed innocent and entitled to a fair trial, during which it will be the government’s burden to prove guilt beyond a reasonable doubt at trial.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime.

Riverdale Main Streets Alliance - This Thursday... RMSA Summer Social!

 

Your Are Invited to RMSA's

Annual Summer Social Event!

Thursday, August 20

6:30-8:30pm

Cote Wine Bar

5639 Mosholu Avenue

Theme: Colorful Summer Chic

Please bring your wallets and join us to support Cote Wine Bar at this happy hour-like event, and connect with fellow neighbors, merchants, colleagues, and the RMSA team!

There will also be a special live Bossa Nova style music performance by Marcelo Cardozo and accompanying vocalist, as well close-up card magic tricks done by local magician, Matt Martin.

RSVP appreciated but not required: https://forms.gle/QmfrwMW2B79rWQwp9

Your Membership Makes a Difference

The Riverdale Main Streets Alliance is a 501(c)(3) nonprofit that promotes a positive neighborhood environment.  Our mission is to provide community friendly “main streets” while expanding the economic growth and vitality of Riverdale. An all volunteer organization. 100% of all proceeds go to beautifying our special corner of New York City. Contact Us Email: rmsabx@gmail.org Website: www.rmsabx.org Instagram: @rmsabx Facebook: Riverdale Main Streets Alliance

Permits Filed for 1740 East Tremont Avenue in Van Nest, The Bronx

 

Permits have been filed for a five-story mixed-use building at 1740 East Tremont Avenue in Van Nest, The Bronx. Located at the intersection of Rosedale Avenue and East Tremont Avenue, the lot is near the East 180th Street subway station, served by the 2 and 5 trains. Leo Klein is listed as the owner behind the applications.

The proposed 43-foot-tall development will yield 20,028 square feet, with 16,417 square feet designated for residential space and 3,611 square feet for commercial space. The building will have 23 residences, most likely rentals based on the average unit scope of 813 square feet. The concrete-based structure will not have any accessory parking.

Nikolai Katz Architect is listed as the architect of record.

Demolition permits were filed in June for the single-story structure on the site. An estimated completion date has not been announced.