State Treasurer Denise Nappier recently announced that the State Teachers’ Retirement Fund realized an investment return of 15.67 percent. That exceeded the actuarial investment assumption of 8.5 percent. Nappier also noted that the Connecticut Retirement Plans and Trust Funds, which includes the State Employees’ Retirement System, Teachers’ Retirement Fund, and 13 other funds, added $4.15 billion of investment gains to pension assets in fiscal year 2014. After net withdrawals, the fund ended the fiscal year with assets of $29.4 billion — a $3.5 billion net increase from the previous year.
“What is noteworthy about our investment experience over the past five years is that pension fund assets have grown at a faster pace than the payment of benefits and other expenses,” Nappier said. “In light of the State’s significant unfunded pension liability, the substantial growth of the fund assets is good news for its beneficiaries and taxpayers.”
The State Teachers’ Retirement Board’s actuary is in the process of preparing the valuation report which provides an updated assessment of the unfunded liability every other year. The report is expected to be presented to the Retirement Board at its November meeting.
Read the press release from the State Treasurer’s office.
