In this still uncertain economic climate, Connecticut teachers can breathe more easily knowing their pension fund generated robust returns in 2013. State Treasurer Denise Nappier yesterday announced that the Teachers’ Retirement Fund (TRF) generated investment returns, net of expenses, of 14.23 percent.
This successful performance brings the Connecticut Retirement Plans and Trust Funds (CRPTF), of which the TRF is a large component, to its highest market value ever posted. The market value of the CRPTF increased $8 billion, or 40 percent, over the past five years.
Treasurer Nappier called the pension funds’ performance excellent news, and said that “the investment results affirm our ongoing investment strategy to position the pension fund portfolios for long-term growth and financial strength.”
Read the press release from the treasurer’s office here.
At least something is going right for teachers.
Fed QE easing is the reason for the increase. Now the tapering begins…watch it fall, not that tapering is bad. The CT politicians can’t take credit for the increase. I sure hope all of you have been following your personal portfolios. We are in for a decline.