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

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 beginning July 1, 2027.