New York State Comptroller Thomas DiNapoli said he expected to lower the 7.5% return assumption for the state’s retirement system, after a yearslong rally in stocks and other assets.
A five-year review of New York State Common Retirement Fund’s investment target is scheduled to be completed later this year. The last time New York State Common lowered its return assumption was September 2010 when the target dropped to 7.5% from 8%.
“There’s a good chance we’ll be below 7.5% in a couple of months when we complete that review,” Mr. DiNapoli said. He made his remarks at a Manhattan event sponsored by nonprofit The Common Good and moderated by Bank of America Merrill Lynch prime brokerage executive Omeed Malik[…]
- Rob Copeland for The Wall Street Journal, READ MORE
