Nappier Not Expected To Seek Reelection

Yes, it is good that the pension funds increased 14%. However, this past year was hardly remarkable for "market instability". Plus, equities markets were nearly all up, with the S & P 500 index was up about 25% for the year Bonds didn't do too badly, either, (except for Puerto Rico), in spite of rising interest rates.

@ 1644.Again Check out the New York State New York State Common Retirement Fund.
The New York State Common Retirement Fund (NYSCRF) is the third largest public pension plan in the nation with an audited value of $192.4 billion in assets held in trust for the retirement security of the more than one million members of the New York State and Local Retirement Systems (NYSLRS). As a long-term investor, NYSCRF has an investment approach which capitalizes on market opportunities and weathers market ups and downs. NYSCRF is widely regarded as one of the nation's best-managed and best-funded pension plans.

$192.4 Billion
in audited value as of
March 31, 2017

https://www.osc.state.ny.us/pension/snapshot.htm

10.17% average five-year return 7.12% average 10-year return 8.69% average 20-year return


$10.9 Billion
in benefits paid out
in the last year

Notice this.
75% of
paid benefits comes
from investment
earnings

Like I told you My pension comes from New York State.So I will ask you again.What is stoping this state from doing the same type of investments?

3/5's:

posted by: 1644 on January 2, 2018 1:07pm
3/5's:

3/5's. I don't have to click on your link to see how NYS or any other entity funds its pensions: they do it through a combination of employer and employee contributions, which are then invested. As I said, in CT and New Haven, neither the employer nor the employees have wanted to contribute to pension and OPEB, with the result being that pensions and OPEB are woefully underfunded. For example, if Malloy really cared about funding the pensions and OPEB the way he pretends to now, he would not have supported a state earned income tax credit, or expansion of pre-school, MedicAid expansion, or increased funding for UConn, etc. He could have said, what, before we start any new spending programs, let's shore up are pitiful pension and non-existent OPEB funds. He did not, because most voters don't vote for fiscal responsibility, they vote for a hand-out now. Similarly, when explicitly given the choice between cutting present benefits and employment levels and cutting pension contributions, SEABAC modified its contract to allow lower pension contributions. CEA and AFL CT have mentioned the pathetic level of their pension fund, but never argued that ECS and other programs should be held to zero increase or cut to fund their pensions. So, because no party wants to delay gratification, we are where we are.

posted by: 1644 on January 2, 2018 7:38pm

3/5's. I don't have to click on your link to see how NYS or any other entity funds its pensions: they do it through a combination of employer and employee contributions, which are then invested. As I said, in CT and New Haven, neither the employer nor the employees have wanted to contribute to pension and OPEB, with the result being that pensions and OPEB are woefully underfunded.

Wroug.The employees do make there contributions as agreed upon.Again the Blame is that the state is not putting what is agreed.Again the blame is on the state not the workers.

SEABAC modified its contract to allow lower pension contributions. CEA and AFL CT have mentioned the pathetic level of their pension fund, but never argued that ECS and other programs should be held to zero increase or cut to fund their pensions. So, because no party wants to delay gratification, we are where we are.

All the state of CT has to do is follow the same model.Case closed.

Two part problem: the long-term underfunding and the reliance of the State on firms that are properly "introduced" rather than a true search for performance and quality

posted by: Rippowam on January 3, 2018 7:07am

Two part problem: the long-term underfunding and the reliance of the State on firms that are properly "introduced" rather than a true search for performance and quality

Home Run.On Point.

New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund (Fund) earned an estimated 11.42 percent return on investments in the state fiscal year that ended on March 31, 2017. The Fund has an estimated value of $192 billion.

"Strong returns over the fiscal year, particularly in the fourth quarter, were driven by rising public equity markets," DiNapoli said. "New York state's pension fund is at a record value based on prudent long term asset allocation. We continue to manage one of best funded, best performing pension plans in the nation and that's great news for the more than one million men and women who participate in it, as well as for New York taxpayers."

Over state fiscal year 2017, domestic and non-U.S. equities enjoyed overall returns of 17.01 percent. The Fund's broader approach to fixed income markets over the last year returned 2.91 percent. The Fund's diversification strategy performed well, with private equity and real estate delivering returns of 7.02 percent and 10.68 percent.

The Fund is the third-largest public pension fund in the country and remains one of the nation's best-managed and best-funded pension plans. The New York State and Local Retirement System provides retirement security to more than one million active state and local government employees, retirees and their beneficiaries. Employer contribution rates are determined by investment results over a multi-year period along with numerous other actuarial assumptions, including wage growth, Check out the list of returns

https://www.osc.state.ny.us/press/releases/may17/052317.htm

How Well Funded Are Pension Plans in Your State?

https://files.taxfoundation.org/20170406115247/pensions-01.png

I remember seeing the PSA ad's that ran on Connecticut Television Stations featuring Denise where she proudly proclaimed "College has never been more expensive, yet never been more affordable." Well that kind of sums up Connecticut Economics. If you don't understand that one try that other oldie but goodie "Spend More, Save More!" About NYS Pensions while yes they are fiscally strong the state is paying many wages with borrowed funds, take a look at the MTA.

posted by: JCFremont on January 3, 2018 12:01pm

About NYS Pensions while yes they are fiscally strong the state is paying many wages with borrowed funds, take a look at the MTA.


With a pension fund estimated value of $192 billion.They can afford to.In fact New York State Comptroller Thomas DiNapoli said that employer contribution rates for the New York State and Local Retirement System (NYSLRS) will decrease in fiscal year 2018-19 due to recent strong investment returns.The Comptroller's Office said the estimated average contribution rate for the Employees' Retirement System (ERS) will decrease to 14.9% of payroll from 15.3% of payroll. Meanwhile, the estimated average contribution rate for the Police and Fire Retirement System (PFRS) will decrease to 23.5% of payroll from 24.4%.

Again. I ask the question.What is stoping the state of Ct from following the same model like New York and other states who have a sound pension system?