HARTFORD, Conn. (AP) - State Treasurer Denise Nappier says Connecticut’s two largest pension funds generated double-digit investment returns during the last fiscal year, which ended June 30.
The Democrat says the State Employee’s Retirement Fund had a 14.34 percent return while the Teachers Retirement Fund saw a 14.40 percent return. She says the results “significantly surpassed” fiscal year 2017 actuarial assumed rates of return, which were 6.9 percent for the state employees fund and 8 percent for the teachers.
Assets from those two pension funds make up 90 percent of the Connecticut Retirement Plans and Trust Funds, which had a total value of $32.4 billion on June 30.
Nappier says outperforming actuarial investment return assumptions helps to “moderate” the state’s recommended, future pension fund contributions, essentially providing more funds for state programs and services.
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