New York City's pension funds achieved a net return of 10.3% for fiscal year 2025, surpassing the 7% target. This performance will decrease the city's pension obligations by $2.18 billion over the next five years. Total assets have reached $294.6 billion, with three-year annualized returns averaging 9.4%. The pension funds are currently around 80% funded, with an estimation of reaching 85% soon. The city's strategy focuses on long-term investments and diversification to navigate shifting markets, aiming to fully fund obligations by 2032.
The five funds' net returns are 10.3% this year, beating the target return of 7% set by the state legislature, which will lower New York City's pension obligations by $2.18 billion over the next five years.
I really feel even prouder of the ways that we repositioned the portfolio for greater success and outperformance in the years to come, according to City Comptroller Brad Lander.
The rapidly shifting monetary policy and continued uncertainty throughout the market underscores the importance of a steady and long-term investment approach rooted in thoughtful diversification, said Chief Investment Officer Steven Meier.
New York City's pensions are around 80% funded, and Lander estimated that number may reach 85% this year when the city's actuary finishes calculations.
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