New York City’s five largest pension funds — police, firefighters, teachers,
municipal and school employee plans — posted a one-year return of 13% through
June 30, lifting combined assets to $326.3bn, the Comptroller’s office said. The
performance, the best since 2021, exceeded the 7% target and is expected to
reduce the city’s required pension contributions by about $6.3bn over the next
five years. The office attributed gains to an AI-driven equity rally;
developed-market equities returned 15.6% and emerging-market equities returned
42% in the year. City officials project a fiscal gap of $6.4bn for the fiscal
year begins July 1, 2027.
