Comptroller Tom DiNapoli just announced that the state pension fund’s rate of return in the 3rd quarter of the budget year was up 1.74%. That brings the total value of the fund to $152.9 billion dollars.

“The New York State Common Retirement Fund has seen steady growth in the second half of 2012 and is on pace for a positive return as we approach the end of the fiscal year on March 31,” DiNapoli said. “Independent reviews of the Fund reveal it is well-run and has a long-term, diversified investment strategy designed to produce positive returns in various market conditions.”

The governor’s recent pension smoothing plan has made the strength of the pension fund a hot topic of late. As Liz blogged about yesterday, Republican Gates Town Supervisor Mark Assini suggested that smoothing could lead to underfunding of the pension plan if the fund is mismanaged or the stock market takes another dive.

Assini is a guest on Capital Tonight this evening at 8pm.

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