New York City Pensions Gain 8% in Fiscal Year, Beating Target

New York City’s five pensions rebounded in the last fiscal year, boosted by a rally in domestic and international stocks in the first half of 2023.

The city’s $253.2 billion pensions for police officers, fire fighters, teachers, civil employees and school personnel returned 8% in the year through June, beating their 7% target, according to a news release Monday from city Comptroller Brad Lander. Stocks surged in the first six months of 2023, as US job growth remained solid and inflation moderated.

The city’s pension funds allocate 45% of assets to stocks, 30% to bonds and 25% to ...