DiNapoli on NY Pension Fund and Fiscal Challenges (with Tom Keene, Paul Sweeney)

NY Comptroller DiNapoli discusses the state pension fund's conservative 5.9% return assumption and diversified strategy (passive equities, alternatives). He highlights $13-14 billion in healthcare cuts from Washington impacting NY, and addresses out-migration, noting affordability for middle/lower income is a bigger issue than tax policy for the wealthy.

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New York State Comptroller 5.0
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Thomas DiNapoli 6.0

DiNapoli on NY Pension Fund and Fiscal Challenges (with Tom Keene, Paul Sweeney)

Thomas DiNapoli

The pension fund's success comes from smart professional management, diversification (public equity, fixed income, alternatives), and a conservative 5.9% assumed rate of return.

We are one of only three funds below 6%, so we don't take as much risk to chase higher returns.
Thomas DiNapoli

The changing relationship with Washington will mean $13-14 billion in healthcare cuts to Medicaid over the next couple of years, impacting NY state finances.

People losing coverage will shift costs to charity pools.
Thomas DiNapoli

Out-migration is real but not as severe as critics say. The bigger issue is affordability for middle and lower income people, not just tax policy for the wealthy.

Quality of life, public safety, and reliable transit are key to keeping people in NY.

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