HARTFORD — State Treasurer Denise L. Nappier announced that the state pension funds, the Connecticut Retirement Plans and Trust Funds (CRPTF), rebounded in the fiscal year ended June 30, with an average net return of 12.88 percent. The pension funds’ net market value increased by $1.5 billion, with $2.6 billion from investment returns offset by $1.1 billion in net benefit payments, to end the fiscal year at $21.9 billion.
The overall success of fiscal year 2010 is reflected in the pension funds’ outperformance relative to their customized benchmarks, with the State Employees’ Retirement Fund SERF, the Teachers’ Retirement Fund (TRF) and the Municipal Employees’ Retirement Fund (MERF) accounting for the majority of the CRPTF. The SERF, TRF, and MERF returned 12.93, 12.87, and 12.57 percent, respectively, and each outperformed its customized benchmark by 0.33, 0.58 and 0.75 percent, respectively.
Said Nappier, the principal fiduciary of the funds, “While we still have a ways to go, it takes the sting out of the dismal returns of fiscal year 2009 and demonstrates the resiliency of our pension fund investment program.”
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