November 8, 2017

CT pension plan performance in top 10 nationally

PHOTO | HBJ File
PHOTO | HBJ File
State Treasurer Denise L. Nappier

Connecticut's combined pension funds and trusts had one of the 10 best investment performances among its peers in the nation for fiscal year 2017, according to the Pensions and Investments news site.

Fueled by robust investment gains, the Connecticut Retirement Plans and Trust Funds (CRPTF) grew by more than $3 billion in value during the 2017 fiscal year, which ended June 30. The CRPTF posted a fiscal year-end net asset value of $32.55 billion, an all-time record, said State Treasurer Denise L. Nappier, citing the recent industry news report.

CRPTF is ranked 10th among state public pension plans according to Pensions and Investments, with a net investment return of 14.18 percent for the year ending June 30.

Likewise, the Teachers' Retirement Fund (TRF) and the State Employees' Retirement Fund (SERF), the two largest pension funds, saw their net market values grow by $1.5 billion and $1.3 billion, respectively.

Nappier cautioned that more needs to be done to improve the funding status of the pension plans and that the state cannot solely rely on robust investment returns.

The CRPTF is comprised of six state pension plans and nine state trust funds.

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