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Stringer: NYC pension funds at $160.5 billion

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New York

NEW YORK (AP) — City Comptroller Scott Stringer says New York City's pension funds ended the latest fiscal year with a record-high value of $160.5 billion.

Stringer says the funds, which he oversees, got a 17.4 percent investment return for fiscal year 2014, which ended June 30.

The comptroller says the investment returns will save the city money in terms of its pension contributions starting in fiscal year 2016.

The funds had a 12.1 percent return in fiscal year 2013. The five-year return rate was 13.4 percent.

There are five city pension funds — the teachers' retirement system, the police pension fund, the fire department pension fund, the board of education retirement system, and the city employees' retirement system.

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